U.S.-based financial institution, Chase (NYSE:JPM) revised its mortgage loan information for Thursday, November 27. Updated details on Chase’s latest mortgage interest rates and APRs can be found below. Chase advertises attractive mortgage rates under both its home purchase and refinance loan programs, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some suitable loan solutions at this financial institution.
Chase Home Purchase Rates
30-Year Fixed-Rate Mortgage: 3.875%, 1.000 discount points, 3.957% APR
15-Year Fixed-Rate Mortgage: 3.125%, 1.125 discount points, 3.287% APR
7/1 Adjustable Rate Mortgage (ARM): 3.125%, 1.000 discount points, 3.068% APR
5/1 Adjustable Rate Mortgage (ARM): 2.875%, 1.000 discount points, 2.953% APR
Chase Refinance Rates
30-Year Fixed-Rate Mortgage: 4.000%, 1.125 discount points, 4.093% APR
15-Year Fixed-Rate Mortgage: 3.250%, 0.875 discount points, 3.376% APR
7/1 Adjustable Rate Mortgage (ARM): 3.250%, 1.000 discount points, 3.127% APR
5/1 Adjustable Rate Mortgage (ARM): 3.000%, 0.875 discount points, 2.986% APR
It should be noted, that the current mortgage interest rates may vary without prior notice from the lender and are subject to change based on location, geography and other terms and conditions. The annual percentage rates (APR) were made based on discount points, origination fees, average loan fees and closing costs.
As far as U.S. mortgage applications are concerned, the Mortgage Bankers Association (MBA) disclosed the results of its latest weekly mortgage survey this mid-week. According to the MBA’s data, mortgage application activity in the U.S. fell 4.3% in the week ended November 21. Less Americans decided to file applications for mortgage refinancing, as the Refinance Index tumbled 4% in the said period. With regards to home purchase applications, the Purchase Index sank 5%. The refinance share of total mortgage applications came in at 63%, the organization announced.
In other mortgage-related news, Virgina-based company, Freddie Mac published its weekly national mortgage survey on Wednesday, which showed, that the 30-year fixed loan averaged a rate of 3.97%, a lower rate by 2 basis points compared to the prior week’s data. On the other hand, the average interest rate on the 15-year FRM stayed intact at 3.17%, according to the housing-finance company’s data.
For additional details on the latest home purchase and refinance mortgage interest rates at Chase, as well as information on borrowing terms and conditions and loan assumptions, please take a look at the bank’s website.