Mortgage Rates Today: Chase Bank Rates Climbing as Property Values Tumble
This Tuesday morning sees Chase Bank (NYSE:JPM) following suit with most other major US lenders across the board, by offering excellent quality mortgage packages for both purchases and refinances, which although have seen a number of minor rises are still of considerable value for money.
Minor increases in purchase rates may in many cases be partially or fully cancelled out by tumbling property values, which leads on to the purchase deals being offered by Chase today. 30 year fixed term contracts can be taken out for 4.250% and a resulting APR of 4.345%, while the 15 year alternative is today being offered for 3.375% and an APR amounting to 3.538%.
Adjustable terms for home purchase include the 7/1 ARM which today begins at 2.875% and an APR of 3.104%, while the 5/1 ARM alternative can be taken on for 2.500% and an APR amounting to 2.996%.
Moving on to the refinance packages available this Tuesday, the standard 30 year fixed term agreement can be locked in for 4.500% and a resulting APR of 4.575%, while the alternative 15 year package is being advertised for 3.625% and an APR amounting to 3.789%.
Adjustable refinance options include the excellent 7/1 ARM which is today at 3.125% and 3.230%, while the 5/1 ARM option is now being offered for 2.750% and a starting APR of 3.082%.
As can clearly be seen in the above figures, there is still ample opportunity to lock in a great deal when looking at the current rates compared to those of previous years, though with further increases expected over the coming days and weeks, many may find any further procrastination costly indeed.
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