Chase Bank Quoting Lower Mortgage Rates than Other Lenders
Chase Bank (NYSE:JPM) is quoting the benchmark 30 year fixed rate mortgage at 4.125% today which is better than the other big four lenders who are at 4.25% or above. The Chase loan carries 1.00 origination point and an APR of 4.209%. When the APR is compared the difference is even more visible. Bank of America today has an APR of 4.457% on the loan and Wells Fargo is at 4.433%, making the Chase rate almost a quarter point better.
The 15 year fixed interest rate is 3.375% at Chase with .75 points and a 3.483% APR. This is in-line with CitiMortgage and Bank of America but a bit above Wells Fargo who is quoting 3.25% for the same loan. Looking at APR’s again, the Chase rate beats all its large competitors by about an eight.
Refinance mortgage interest rates at Chase Bank are quite a bit higher than the home purchase rates quoted above. The 30 year refinance mortgage is 4.50% with a 4.585% APR. The 15 year fixed refi is 3.875%, a full half point higher with a 4.022% APR.
Adjustable rate loans are 2.50% for the 5 year ARM and 2.875% for the 7 year ARM.
More information about lending programs like the FHA and VA loan programs is available online at www.Chase.com.
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