Mortgage rates on conventional home purchase and refinance loans were updated by top U.S. lender, Chase (NYSE:JPM), for Thursday, October 9. For information on the financial institution’s latest mortgage interest rates, discount points and APRs, please check the data below.
Chase offers 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 mortgage, may find some suitable mortgage products at this financial institution.
Chase Home Purchase Rates
30-Year Fixed-Rate Mortgage: 3.875%, 0.875 discount points, 3.947% APR
15-Year Fixed-Rate Mortgage: 3.125%, 1.250 discount points, 3.306% APR
7/1 Adjustable Rate Mortgage (ARM): 3.125%, 1.125 discount points, 3.079% APR
5/1 Adjustable Rate Mortgage (ARM): 3.125%, 0.875 discount points, 3.030% APR
Chase Refinance Rates
30-Year Fixed-Rate Mortgage: 4.000%, 1.250 discount points, 4.104% APR
15-Year Fixed-Rate Mortgage: 3.250%, 1.125 discount points, 3.413% APR
7/1 Adjustable Rate Mortgage (ARM): 3.250%, 1.125 discount points, 3.137% APR
5/1 Adjustable Rate Mortgage (ARM): 3.125%, 1.125 discount points, 3.050% 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 on Wednesday. According to the MBA’s data, mortgage application activity in the U.S. edged up 3.8% in the week ended October 3. More Americans decided to file applications for mortgage refinancing, as the Refinance Index rose 5% in the said period. With regards to home purchase applications, the Purchase Index climbed 2%. The refinance share of total mortgage applications stayed firm at 56% last week, the MBA reported.
In other news, Virgina-based company, Freddie Mac released its weekly national mortgage survey on Thursday, which showed, that the 30-year fixed loan averaged a rate of 4.12% this week, a lower rate by 7 basis point compared to the prior week’s data. On the other hand, the 15-year FRM slipped to 3.30% this week, according to the housing-finance company’s data.
For more 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 visit to the bank’s website.