Current Refinance Mortgage Rates and Fixed Home Loans at Chase for March 27

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Mortgage Interest Rates TodayAmerican home loan provider, Chase (NYSE:JPM) updated its mortgage information for March 27, 2015, which is discussed below. This bank offers excellent 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 loan, may find some suitable mortgages at this bank.

Chase Home Purchase Rates

30-Year Fixed-Rate Mortgage: 3.625%, 0.500 discount points, 3.665% APR
15-Year Fixed-Rate Mortgage: 2.875%, 0.875 discount points, 3.000% APR
7/1 Adjustable Rate Mortgage (ARM): 3.125%, 0.875 discount points, 3.126% APR
5/1 Adjustable Rate Mortgage (ARM): 2.875%, 1.125 discount points, 3.045% APR

Chase Refinance Rates

30-Year Fixed-Rate Mortgage: 3.875%, 1.000 discount points, 3.957% APR
15-Year Fixed-Rate Mortgage: 3.250%, 1.000 discount points, 3.394% APR
7/1 Adjustable Rate Mortgage (ARM): 3.375%, 0.875 discount points, 3.243% APR
5/1 Adjustable Rate Mortgage (ARM): 3.125%, 0.875 discount points, 3.112% 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) disclosed the results of its latest weekly survey this week. According to the MBA’s data, the Market Composite Index, which measures overall mortgage application activity, edged up 9.5% on a seasonally adjusted basis in the week ended March 20. Loan applications for mortgage refinancing climbed 12%, according to the organization’s data. The Purchase Index improved 5%. The refinance share of total mortgage applications advanced to 61% from the previous 59%, according to the MBA’s survey.

On the other hand, the share of ARMs escalated to 5.8%. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications decreased to 13.3% from the previous 14.3% that it carried before. Now, the share of VA loan applications declined to 10.1%, according to the weekly survey. The share of USDA mortgage applications edged down 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 ticked down by 9 basis points to 3.90%, according to the MBA. As far as the 15-year FRM is concerned, the average rate is hovering at 3.22%, a downtick of 6 basis points, 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 loan moved lower to 3.69% from the previous 3.78%. Meanwhile, the average rate on the shorter-term 15-year fixed mortgage decreased to 2.97% this week. A week earlier this type of mortgage loan averaged a rate of 3.06%, according to the firm.

A different company, Bankrate also disclosed its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage declined to 3.80% this week. The interest rate on the shorter-term, 15-year mortgage improved by 11 basis points to 3.04%, according to the the latest data. The interest rate on the 5/1 ARM moved lower in the company’s survey, this type of loan is now coming out at 3.14%.

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.