The best 30 year loan deals have been published at 4.375% at Chase Bank (NYSE:JPM) with an APR of 4.449% today. The shorter term, popular 15 year fixed rate mortgages at the bank have been offered at 3.625% today yielding an APR of 3.734%.
ARMs in the 5 year category are coming out at 3.250% at Chase Bank with a starting APR of 3.084% which will change as interest rates adjust. 7 year Adjustable Rate Mortgages have been listed at 3.500% currently with an APR of 3.234% to start.
Latest Refinance Mortgage Rates
The best 30 year refinance fixed rate mortgages stand at 4.375% at Chase Bank today carrying an APR of 4.449%. The shorter term, popular 15 year refi fixed rate mortgages have been quoted at 3.500% today yielding an APR of 3.609%. ARMs in the 5 year refi category are 3.125% at Chase Bank. with an APR of 3.040%. 7/1 ARMs start at 3.375% with an APR of 3.195%.
The bigger picture
Interest rates for mortgages are driven by market traded MBSs which go up and down with the markets. Stock markets declined by close of day today putting the DJAI at 15,337.70 a decrease of -113.35.
Interest rates at Chase Bank did not defy the Wall Street direction. More specifically, the stock price of Chase Bank moved higher to 53.66 up +0.37.