JPMorgan Chase & Co. (NYSE: JPM) conducts its banking operations through its subsidiary Chase Bank. The lender provides mortgage loans for home purchase and refinancing for borrowers with strong credit standing. The bank’s mortgage interest rates for July 8, 2013 are discussed below. Bear in mind, 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.
Chase’s 30-year fixed rate conventional home loan can be locked in at 4.625% with an annual percentage rate set to 4.679%. The 15-year fixed rate package can be picked up at 3.625% with an APR standing at 3.753%.
Furthermore, Chase provides adjustable rate mortgage (ARM) loans for borrowers who need more flexibility with interest rates. These loans come with a fixed interest rate period, after which the mortgage rate is adjusted depending on prevailing market interest rates at the time of the reset.
Presently, the 7/1 ARM home purchase loan is offered at 3.750% and an APR of 3.398% while the 5/1 version of this type loan is up for grabs at a rate of 3.000% and an effective APR variable of 3.049%.
For mortgage refinancing, the 30-year fixed rate loan is listed at a rate of 4.750% and comes with an APR variable of 4.837%. The more popular 15-year FRM bears a mortgage rate of 3.625% and an APR of 3.753% as of Monday.
Looking at more flexible home refinancing options, Chase’s 7/1 ARM is on the books at 4.500%. The mortgage package bears an APR sum of 3.762%. As for the 5/1 ARM home refinance loan, interested mortgage shoppers can expect to pay a rate of 3.750%, while the APR is set at 3.304%.
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. For additional information on Chase’s mortgage interest rates contact a loan officer in charge or visit the lender’s website for more details.