Chase Bank (NYSE: JPM) is a major mortgage lender in the United States, which advertises various home purchase and refinance loan packages for interested borrowers.
Chase Bank (NYSE: JPM) is a major mortgage lender in the United States, which advertises various home purchase and refinance loan packages for interested borrowers. Bear in mind, that the annual percentage rate (APR) calculations were made using closing costs and discount points, assuming that the borrower will pay 1.00% of the total loan amount in origination fees. The lender’s mortgage interest rates, listed below, are updated for March 10, 2014.
Looking at current mortgage rates quotes, the standard 30-year fixed home purchase loan is listed at a rate of 4.375% at this lender. The annual percentage rate (APR), which represents the interest and other costs of the mortgage at a yearly rate, is coming out at 4.471%. Borrowers, who believe the 15-year fixed rate loan fits the bill better, can expect to pay 3.500% in interest. The loan’s APR stands at 3.664%.
Amongst its several mortgage loan offerings, Chase provides adjustable rate mortgages (ARMs) as well, for borrowers who need more flexibility with interest rates. ARMs come with a fixed interest rate period, after which the interest rate is adjusted depending on prevailing market interest rates at the time of the reset.
According to today’s interest rate information, the 7/1 adjustable rate home loan starts at a rate of 3.375% and the package comes with an APR of 3.138%. Others borrowers, who decide to opt for the 5/1 ARM alternative, will see it being published at a rate of 3.125%. The corresponding APR is 2.968%.
Standard home refinance loan offerings include the 30-year fixed mortgage, which demands 4.500% in interest. The loan’s APR variable is set at 4.596%. The popular 15-year refinance loan is available at a rate of 3.500% and an annual percentage rate of 3.682% completes the package.
Refinancing with the help of the lender’s ARMs could be attractive for those, who prefer flexible loan conditions. Currently, the 7/1 adjustable rate mortgage, for refinancing purposes, is offered at a rate of 3.500%, whilst the annual percentage rate is 3.187%. Moving on to the 5/1 ARM, it has a daily low at 3.250% and the APR hovers at 3.012%, today’s updated interest rate data revealed.
Bear in mind, that the mortgage interest rate quotes given are liable to change without notice and can vary when the loan is approved or the funds are disbursed. Contact the loan officer in charge or check the bank’s website for more information on today’s mortgage rates.