As far as ARMs go, 5 year loans have been listed at 3.250% at Chase Bank and an APR of 3.084%. The 7 year Adjustable Rate Mortgages stand at 3.500% currently with an APR of 3.234%.
Interest Rates for Refinance
The best 30 year refinance FRMs at Chase Bank have been listed at 4.375% with an APR of 4.439% today. The short term, popular 15 year refi FRM interest rates start at 3.500% yielding an APR of 3.609% today. As far as ARMs go, 5 year refi deals at Chase stand at 3.125%. yielding an APR of 3.040%. 7 year refi ARM interest rates are being offered for 3.375% today and an APR of 3.195%.
From the bank’s stock perspective
Mortgage and refinance rates move up and down usually because of MBS’s traded on finance markets which go in the same direction as the stock market. Securities went down by the end of trading today putting the DJAI at 15,337.70.
For today the bank blindly followed the DJIA performance. Related to the market discussion, the stock price of Chase Bank moved higher to 53.66 up +0.69%.