American lender, Capital One (NYSE:COF) updated its mortgage information for June 11, 2015, which is discussed below. The lender has been offering excellent 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.
Capital One Mortgage Rates
15-Year Fixed Mortgage: 3.375%, 0.125 discount points, 3.485% APR
30-Year Fixed Mortgage: 4.000%, no discount points, 4.052% APR
5/1 Adjustable Rate Mortgage (ARM): 3.000%, no discount points, 3.049% APR
7/1 Adjustable Rate Mortgage (ARM): 3.250%, no discount points, 3.165% APR
The rate information provided assumes the purpose of the mortgage loan is to purchase a property, a single family home to be used as a primary residence with a loan amount of $250,000. The interest rate reflects a 60 day rate lock period. Please, note 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. The actual mortgage interest rate will depend on a number of factors including but not limited to loan type, credit profile, property type, appraised value, occupancy and loan size.
Freddie Mac, which is based in McLean, VA, said on Thursday, that the interest rate on the 30-year fixed loan escalated to 4.04% from the previous 3.87%. In addition, the average rate on the shorter-term 15-year fixed mortgage rose to 3.25% during the week. A week earlier this type of mortgage loan averaged a rate of 3.08%, according to the organization.
A different company, Bankrate also published its weekly mortgage survey, which revealed that the interest rate on the 30-year conventional loan edged up to 4.15% during the week. The interest rate on the shorter-term, 15-year mortgage surged at 3.39%, according to the survey. The current rate on the 5/1 ARM shot up in Bankrate’s latest survey, this type of loan is now standing at 3.24%.
For additional details on the latest home purchase and refinance mortgage interest rates at Capital One, as well as information on borrowing terms and conditions and loan assumptions, please visit the bank’s website.