Current Mortgage Rates: Chase Home Loans and Refinance Mortgage Rates for March 16

0
100

Current Mortgage Rates: Chase Home Loans and Refinance Mortgage Rates for March 16Mortgage rates had a big drop back on Thursday, as tensions in Ukraine have intensified in the second half of the week. At top U.S. lender, Chase (NYSE:JPM), interest rates improved on most of the loan packages that day. Currently, the 30-year mortgage loan, under the bank’s home loan portfolio, is coming out at a rate of 4.250%. Those looking to obtain the 15-year home loan, which comes with a fixed interest rate, can expect to pay 3.375% interest cost at this lender. Chase’s ARMs also retained their attractive levels after Thursday, with the 7-year adjustable rate loan coming out at 3.250%. The 5/1 ARM, on the other hand, can be locked in at a rate of 3.000%.

Switching to the lender’s refinance loan options, the 30-year fixed mortgage is published at a rate of 4.375%, a competitive interest rate. The 15-year FRM had a slight increase on Friday, and the mortgage rate on this loan stands at 3.375%. The 7/1 adjustable rate mortgage hasn’t seen any changes at Chase, as it can be secured at a rate of 3.375%. The 5/1 ARM is another possible option, and the interest rate is hovering at 3.125%. Additional information on the lender’s home purchase and refinance loans can be found 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 mortgage, may find some ideal loans at this lender.

Chase Home Purchase Rates

30-Year Fixed-Rate Mortgage: 4.250%, 0.875 discount points, 4.324% APR
15-Year Fixed-Rate Mortgage: 3.375%, 1.125 discount points, 3.538% APR
7/1 Adjustable Rate Mortgage (ARM): 3.250%, 1.125 discount points, 3.069% APR
5/1 Adjustable Rate Mortgage (ARM): 3.000%, 1.125 discount points, 2.924% APR

Chase Refinance Rates

30-Year Fixed-Rate Mortgage: 4.375%, 1.125 discount points, 4.471% APR
15-Year Fixed-Rate Mortgage: 3.375%, 1.250 discount points, 3.557% APR
7/1 Adjustable Rate Mortgage (ARM): 3.375%, 1.000 discount points, 3.118% APR
5/1 Adjustable Rate Mortgage (ARM): 3.125%, 1.000 discount points, 2.958% 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

As far as U.S. mortgage applications are concerned, the Mortgage Bankers Association (MBA) announced the results of its latest weekly mortgage survey earlier on Wednesday. According to the MBA’s data, mortgage application activity in the U.S. tumbled 2.1% in the week ended March 7. Less Americans decided to file applications for mortgage refinancing, as the Refinance Index fell 3% in the said period. With regards to home purchase applications, the Purchase Index ticked down 1%. The refinance share of total mortgage applications sank to 57%, the MBA reported.

In other news, national average mortgage rates increased this week, according to Virgina-based mortgage finance company, Freddie Mac. The 30-year fixed mortgage averaged a rate of 4.37% this week, climbing 9 basis points compared to the previous 4.28% that it held in the prior week. The 15-year FRM averaged 3.38% this week, an increase of 6 basis points since last week’s data, Freddie Mac reported on Thursday.

More 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 bank’s website.