Current Mortgage Interest Rates: Chase 30-Year and 15-Year Refinance Rates for April 16

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Chase Mortgage RatesTop U.S. lender, Chase (NYSE:JPM) disclosed the updated mortgage information for its conventional loans on April 16, 2015. Detailed information on 30-year and 15-year fixed rate loans, discount points and annual percentage rates (APRs) are listed below. Chase advertises attractive interest 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 mortgage, may find some ideal loan options at this financial institution.

Chase Home Purchase Rates

30-Year Fixed-Rate Mortgage: 3.500%, 1.375 discount points, 3.611% APR
15-Year Fixed-Rate Mortgage: 2.875%, 1.125 discount points, 3.036% APR
7/1 Adjustable Rate Mortgage (ARM): 2.875%, 1.125 discount points, 3.031% APR
5/1 Adjustable Rate Mortgage (ARM): 2.625%, 1.000 discount points, 2.948% APR

Chase Refinance Rates

30-Year Fixed-Rate Mortgage: 3.750%, 1.250 discount points, 3.853% APR
15-Year Fixed-Rate Mortgage: 3.125%, 1.000 discount points, 3.269% APR
7/1 Adjustable Rate Mortgage (ARM): 3.125%, 1.000 discount points, 3.136% APR

5/1 Adjustable Rate Mortgage (ARM): 2.750%, 1.125 discount points, 3.001% 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.

► Compare Today’s Mortgage Rates and Find The Best Loans

Looking at national mortgage news, the Mortgage Bankers Association (MBA) published the results of its latest weekly survey on Wednesday. According to the MBA’s data, the Market Composite Index, which measures overall mortgage application activity, edged down 2.3% on a seasonally adjusted basis in the week ended April 10. Loan applications for mortgage refinancing dipped 2%, according to the organization’s data. The Purchase Index decreased 3%. The refinance share of total mortgage applications ticked up to 58% from the previous 57%, according to the latest data.

On the other hand, the share of ARMs declined to 5.4%. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications rose to 13.5% from the former 13.2% that it carried before. Now, the share of VA loan applications soared to 11.1%, according to the weekly survey. The share of USDA mortgage applications remained steady in the said period, these type of loans account for 0.8% of all mortgage applications.

The average contract interest rate on the 30-year fixed mortgage climbed by 1 basis point to 3.87%, according to the MBA. As far as the 15-year FRM is concerned, the average rate came in at 3.16%, an increase of 1 basis point, according to the MBA’s survey.

Freddie Mac, which is based in McLean, VA, announced on Thursday, that the interest rate on the 30-year fixed mortgage ticked up to 3.67% from the previous 3.66%. On the other hand, the interest rate on the shorter-term 15-year fixed loan soared to 2.94% this week. A week earlier this type of mortgage loan was hovering at a rate of 2.93%, according to Freddie Mac.

A different company, Bankrate also published its weekly mortgage survey, which revealed that the interest rate on the 30-year conventional loan slipped to 3.79% during this week. The interest rate on the shorter-term, 15-year mortgage decreased by 1 basis point to 3.03%, according to the the latest data. The current rate on the 5/1 ARM drifted higher in Bankrate’s survey, this type of mortgage is now coming out at 3.08%.

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 head over to the financial institution’s website.