Mortgage Rates Today: Chase Bank Holding Steady on High-Value Packages
While many are speculating that mortgage rates across the board could fall even lower than those of today, Chase Bank (NYSE:JPM) is nonetheless offering a range of incredibly high-value packages with the potential to save buyers and refinancers a small fortune were they to take advantage right now.
With regard to those looking to buy a new or previously occupied home, 30 year fixed term deals are today being offered by Chase for 3.875% with a resulting APR of 3.937%, while the 15 year fixed term alternative can be locked in for 3.250% with an APR of 3.395%.
The 7/1 ARM option for new and used home purchases is today at 2.625% with an APR of 2.981%, while the 5/1 ARM can be taken out with a starting rate of 2.375% and an APR of 2.929%.
Refinance deals are also something of a bargain to say the least right now, with 30 year fixed term deals being offered for 4.375% with an APR of 4.460%, while the 15 year term can be taken on for 3.875% with an APR of 4.003%.
7/1 ARM terms for refinance can be taken with a starting rate of 2.875% and an APR of 3.086%, while the 5/1 ARM option is now at 2.625% with an APR of 3.005%.
Over the past week, a surge in refinance activity by consumers of over 11% has been recorded, while both new and used home sales continue their sluggish pace.
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