Current Refinance Rates and Home Mortgage Rates at Chase for December 30

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Current Refinance Rates and Home Mortgage Rates at Chase for December 30Chase (NYSE:JPM), a major lender in the U.S., updated its home purchase and refinance loan information for Tuesday, December 30, which is listed below. Chase advertises attractive 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: 3.750%, 1.000 discount points, 3.832% APR
15-Year Fixed-Rate Mortgage: 3.125%, 1.250 discount points, 3.306% APR
7/1 Adjustable Rate Mortgage (ARM): 3.250%, 1.000 discount points, 3.127% APR
5/1 Adjustable Rate Mortgage (ARM): 3.125%, 1.000 discount points, 3.040% APR

Chase Refinance Rates

30-Year Fixed-Rate Mortgage: 4.000%, 0.750 discount points, 4.062% APR
15-Year Fixed-Rate Mortgage: 3.250%, 1.000 discount points, 3.395% APR
7/1 Adjustable Rate Mortgage (ARM): 3.375%, 1.000 discount points, 3.185% APR
5/1 Adjustable Rate Mortgage (ARM): 3.250%, 0.875 discount points, 3.074% 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) released the results of its weekly survey last week. According to the MBA’s data, the Market Composite Index, which measures overall mortgage application activity, edged up 0.9% on a seasonally adjusted basis in the week ended December 19. Loan applications for mortgage refinancing escalated 1%, according to the organization’s data. Similarly, the Purchase Index improved 1%. The refinance share of total mortgage applications rose to 67%, according to the latest data.

On the other hand, the share of ARMs surged to 6.5% from the previous 6.2%. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications decreased to 8.6% from the former 8.7% that it carried before. Now, the share of VA loan applications plummeted to 10.3%, according to the weekly survey. The share of USDA mortgage applications is holding firm last week, these type of loans account for 0.8% of all mortgage applications.

The average contract interest rate on the 30-year fixed mortgage declined by 4 basis points to 4.02%, according to the MBA. As far as the 15-year FRM is concerned, the average rate came in at 3.29%, an improvement of 4 basis points, according to the MBA’s data.

Government-sponsored housing firm, Freddie Mac reported last week, that the average rate on the 30-year fixed loan edged up to 3.83% from the previous 3.80%. On the other hand, the interest rate on the shorter-term 15-year fixed loan climbed to 3.10% last week. Previously this type of mortgage loan averaged a rate of 3.09%, according to Freddie Mac..

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 take a look at the financial institution’s website.