This Thursday, which is usually known as a carrier of bad news for the interested mortgage shoppers, proved to be a happy one for the mortgage customers of Capital One Financial Corp (NYSE: COF). In the new mortgage data released by the bank on June 26, 2014, the interested customers will find no relative change in the benchmark 30 year fixed mortgage interest rates and the lending rates of other mortgage options.
As far as adjustable rate mortgage options are concerned, the interested borrowers can spot the best 5 year variable rate home loan deals being advertised at an interest rate of 3.000% and carry an annual return rate of 2.862% to start with. The more flexible, 7 year adjustable rate mortgage deals are now up for grabs at an interest rate of 3.125% and an annual return rate of 2.985% on the principal amount of home loan secured from the bank.
The mortgage lending rates quoted by the bank are normally affected by the upward and downward movement in the overall price changes experienced by the mortgage backed bonds and securities, which are known to follow the stock market movements closely. As the stock market plummeted towards the end of the trading day and left the DJIA index by at 15337.70, the bank moved along the same path for publishing its lending rates. Regardless of the mortgage rates, the stock price of COF shares experienced a hike of +0.88% and reached a new price point of 67.60.
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