As of now, the standard, long term, 30 year fixed rate mortgage home loan plans are coming out at an improved interest rate of 4.125% and an annual percentage rate of 4.128% this Thursday. However, for the seekers of relatively shorter home loan deals, the 15 year fixed rate mortgage home loans can be secured at an interest rate of 3.375% and an annual return rate of 3.381% today.
For the borrowers, who are planning on financing their expensive home projects through Capital One Financial, the jumbo variants of 30 year fixed rate mortgage home loan packages can be ideal choice at an interest price of 4.250% and an APR yield of 4.251%, which is certainly higher than the return offered by non-jumbo home loans. On the other hand, the short term, 15 year counterparts of the 30 year jumbo fixed rate home loan options can be seen quoted at an interest rate of 3.875% and an APR yield of 3.877% today.
As far as mortgage home loan options at variable rates of interest are concerned, the bank is offering its 5 year adjustable rate mortgage home loans at an interest rate of 3.000% and an APR yield of 2.839% today. Alternatively, the more flexible, 7 year adjustable rate mortgage home loan packages can be secured at a lending rate of 3.375% and an APR yield of 3.041% to begin with.
The mortgage interest rates quoted by banks normally fluctuate depending upon the ups and downs in the prices of the mortgage backed bonds and securities traded in the financial markets, which are known to follow the movements of stock market. As the Wall Street plummeted by the end of the trading day and left the DJIA index at 15337.70, Capital One Financial moved along the same path for quoting its mortgage interest rates. However, irrespective of the mortgage interest rates, the stock prices of COF shares increased by +0.59 and closed at a new price mark of 67.60.
The post Capital One Publishes Improved Mortgage Interest Rates on May 8, 2014 appeared first on Morning Ledger.