Current Mortgage Rates Today: Chase Mortgage Interest Rates for March 19

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Chase Mortgage RatesTop U.S. mortgage loan provider, Chase (NYSE:JPM) disclosed the updated mortgage information for its conventional loans on March 19, 2015. Detailed information on 30-year and 15-year fixed rate loans, discount points and annual percentage rates (APRs) are listed below. This lender provides 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 suitable mortgage products at this financial institution.

Chase Home Purchase Rates

30-Year Fixed-Rate Mortgage: 3.500%, 1.500 discount points, 3.622% APR
15-Year Fixed-Rate Mortgage: 2.875%, 0.750 discount points, 2.982% APR
7/1 Adjustable Rate Mortgage (ARM): 3.000%, 1.000 discount points, 3.078% APR
5/1 Adjustable Rate Mortgage (ARM): 3.000%, 0.875 discount points, 3.068% APR

Chase Refinance Rates

30-Year Fixed-Rate Mortgage: 3.750%, 1.250 discount points, 3.853% APR
15-Year Fixed-Rate Mortgage: 3.250%, 0.875 discount points, 3.376% APR
7/1 Adjustable Rate Mortgage (ARM): 3.250%, 0.875 discount points, 3.185% APR
5/1 Adjustable Rate Mortgage (ARM): 3.000%, 1.125 discount points, 3.088% 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.

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With regards to mortgage application activity, 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, plunged 3.9% on a seasonally adjusted basis in the week ended March 13. Loan applications for mortgage refinancing dropped 5%, according to the organization’s data. The Purchase Index dropped 2%. The refinance share of total mortgage applications dipped to 59% from the previous 60%, according to the latest data.

On the other hand, the share of ARMs sank to 5.5%. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications grew to 14.3% from the previous 14.0% that it carried before. Now, the share of VA loan applications declined to 10.3%, according to the weekly survey. The share of USDA mortgage applications improved in the said period, these type of loans account for 0.9% of all mortgage applications.

The average contract interest rate on the 30-year fixed mortgage headed lower by 2 basis points to 3.99%, according to the MBA. As far as the 15-year FRM is concerned, the average rate came in at 3.28%, a decrease of 1 basis point, according to the MBA’s survey.

Freddie Mac, which is based in McLean, VA, said on Thursday, that the interest rate on the 30-year fixed mortgage edged down to 3.78% from the former 3.86%. Meanwhile, the interest rate on the shorter-term 15-year fixed mortgage ticked down to 3.06% this week. Previously this type of mortgage loan averaged a rate of 3.10%, according to the housing giant.

A different company, Bankrate also disclosed its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage declined to 3.91% this week. The interest rate on the shorter-term, 15-year mortgage improved by 3 basis points to 3.15%, according to the survey. The current rate on the 5/1 ARM improved in the company’s survey, this type of mortgage is now standing at 3.20%.

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 see the bank’s website.