JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) conducts its banking operations through its subsidiary Chase Bank. The bank provides mortgage loans for home purchase and refinancing for potential customers with strong credit standing. The lender’s mortgage interest rates for January 29, 2014 are discussed below.
Take note, that the annual percentage (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.
According to Chase’s published rate information for today, the 30-year home mortgage is offered at a rate of 4.375% with an annual percentage rate amounting to 4.439%. Shifting to the shorter-term, 15-year fixed rate home loan, it’s up for grabs at a rate of 3.500% and the package comes with an APR variable of 3.682%.
Chase also provides adjustable rate mortgage (ARM) loans for borrowers who need more flexibility with interest rates. These loans have a fixed interest rate period, after which the mortgage rate is adjusted to reflect current market rates until the loan’s maturity.
As far as the more flexible home mortgage options are concerned, Chase’s 7/1 ARM is listed at a rate of 3.375%. The mortgage package carries an APR sum of 3.206%. As for the 5/1 ARM home loan, qualified borrowers can expect to pay 3.250% in interest, while the APR is set at 3.084%.
Current home refinancing deals include the 30-year fixed rate loan, which can be locked in at a rate of 4.500% and the package contains an APR figure of 4.564%. The 15-year FRM, which is a popular option among borrowers, has an opening rate of 3.625% and an annual percentage rate of 3.734%.
Individuals, who lean towards more flexibility when refinancing an existing loan, should consider the lender’s 7/1 adjustable rate mortgage, which has a daily low at 3.500% and features 3.255% by way of annual percentage rate. The 5/1 ARM is on the books at 3.375% and it comes with an APR of 3.118%.
For more information on Chase’s current home purchase and refinance mortgage rates, please head over to the bank’s website or contact a loan officer in charge.