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Mortgage Rates Today: Chase, Capital One and Wells Fargo Refinance Rates for August 15, 2012


By Admin | 15 August 2012

U.S. mortgage rates rose yesterday and reached their highest levels since July, due to some positive domestic data that affected markets. However, we anticipate that mortgage interest rates will regain some of the ground they lost in recent days, as some mixed economic reports got released this Wednesday.

Earlier today, the Labor Department released the Consumer Price Index for July, which shows that prices remained unchanged on a seasonally adjusted basis for the second straight month. The core CPI rose only 0.1%, recording the smallest improvement since February.

According to the New York Federal Reserve, the Empire State Manufacturing Index slipped to minus 5.85 in August, resulting in thirteen points of decline from July’s 7.39 reading. The current data indicates a weak manufacturing acitivity in the New York region.


Despite these two negative reports, which are generally favorable for lower mortgage rates, the Industrial Production data for July suggests that the U.S. economy may be improving. The latest data from the Federal Reserve shows, that Industrial Production advanced 0.6% last month. Economists had forecasted an increase of 0.5%. Obviously, such positive data isn’t helping mortgage rates to improve.

Today we reported on current mortgage interest rates at Bank of America (NYSE:BAC), PNC Bank (NYSE:PNC) and Branch Banking and Trust (NYSE:BAC), now let’s look at some other top lenders’ mortgage offers.

Regarding the most notable refinance deals at Chase (NYSE:JPM), the standard 30-year FRM carries a higher rate today in the form of 4.000% and bears an annual percentage rate of 4.062%. The 15-year fixed rate mortgage loan followed the same path, as it gained since yesterday and now stands at 3.000% and has an APR of 3.144%.

Turning focus to Chase’s current adjustable rate mortgage packages, the 7/1 ARM remained unchanged at 2.750% and an APR figure of 3.143%. In case of the 5/1 adjustable rate loan, the opening rate was raised to 2.625% which features an APR variable of 3.141% as of Wednesday.

Mortgage rates at Capital One (NYSE:COF) seem to be on the attractive side today, with the 30-year FRM starting at 4.000% and carrying an annual percentage rate of 4.103%. Home refinancers who believe the 15-year version of this mortgage loan fits the bill better, can expect a rate of 3.250% with an APR amounting to 3.376%.

More flexible loan options include the 5/1 ARM, which is holding a daily low of 2.625% and has a competitive APR in the form of 2.692%.

Among major lenders, Wells Fargo (NYSE:WFC) is offering some attractive loans for home refinancing, however we noticed a slight rise in interest rates today. The 30-year fixed rate deal can be locked in an taken home at a rate of 4.000% which comes with an APR sum of 4.178%. The 15-year fixed counterpart is being offered by Wells Fargo at a rate of 3.000% plus an APR of 3.308%.

The 30-year fixed FHA package is available this Wednesday at 3.625% and yields to an annual percentage rate of 4.686%.

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