Current mortgage rates at Chase (NYSE:JPM) are higher now compared to those levels we saw a day earlier. According to the bank’s updated mortgage data for Wednesday, July 9, the 30-year fixed home loan is now offered at a rate of 4.250%, an uptick compared to the former 4.125% that it held on Tuesday. The 15-year fixed conventional loan carries a steeper interest rate as well, as the lender raised the starting rate to 3.375% from 3.250%. Among Chase’s adjustable rate loan offerings, we haven’t noticed many changes as far as mortgage rates are concerned. The 7/1 LIBOR ARM is coming out at a rate of 3.375%, whilst the 5/1 version of this flexible mortgage loan can be had at a rate of 3.250%.
Turning attention to the lender’s current refinance mortgage rates, the benchmark 30-year FRM is holding steady at 4.250%, according to the latest mortgage information. The same can be said about the 15-year fixed loan, as it’s listed at a rate of 3.375% on Wednesday. Borrowers, who prefer lower inital mortgage rates in the first few years of the loan’s term, may want to opt for the 7/1 ARM, which is available for home refinancing purposes at a rate of 3.500%. Another possible option is the 5/1 adjustable rate mortgage, and it can be locked in today at a rate of 3.375%. For more information on Chase’s current home purchase and refinance mortgage rates, please check the details below.
Chase offers excellent mortgage rates under both its home purchase and refinance programs, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some ideal loan solutions at this lender.
Chase Home Purchase Rates
30-Year Fixed-Rate Mortgage: 4.250%, 0.625 discount points, 4.302% APR
15-Year Fixed-Rate Mortgage: 3.375%, 0.875 discount points, 3.502% APR
7/1 Adjustable Rate Mortgage (ARM): 3.375%, 1.125 discount points, 3.127% APR
5/1 Adjustable Rate Mortgage (ARM): 3.250%, 1.125 discount points, 3.012% APR
Chase Refinance Rates
30-Year Fixed-Rate Mortgage: 4.250%, 1.375 discount points, 4.366% APR
15-Year Fixed-Rate Mortgage: 3.375%, 1.125 discount points, 3.538% APR
7/1 Adjustable Rate Mortgage (ARM): 3.500%, 1.125 discount points, 3.187% APR
5/1 Adjustable Rate Mortgage (ARM): 3.375%, 1.125 discount points, 3.056% 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) published the results of its latest weekly mortgage survey this mid-week. According to the MBA’s data, mortgage application activity in the U.S. soared 1.9% in the week ended July 4. More Americans decided to file applications for mortgage refinancing, as the Refinance Index moved up 0.4% in the said period. With regards to home purchase applications, the Purchase Index advanced 3.7%. The refinance share of total mortgage applications slipped and now it stands at 52%, the MBA announced.
In other news, Virgina-based mortgage finance company, Freddie Mac published its weekly national mortgage survey last week, which showed, that the 30-year fixed loan averaged a rate of 4.12%, a downtick of 2 basis points compared to the previous 4.14% that it held in the prior week. On the other hand, the 15-year FRM averaged 3.22% during last week, unchanged compared to last week’s rate level, Freddie Mac said.
Additional details on Chase’s current mortgage interest rates, as well as information on loan assumptions and borrowing terms and conditions can be found on the lender’s website.