Current Refinance Rates Today: 30-Year and 15-Year Fixed Rate Loans at Chase for June 4


Current Refinance Rates Today: 30-Year and 15-Year Fixed Rate Loans at Chase for June 4Chase (NYSE:JPM), a major lender in the U.S., updated its home purchase and refinance loan information for Thursday, June 4, which is discussed below. This bank offers 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 loan, may find some ideal loan options at this financial institution.

Chase Home Purchase Rates

30-Year Fixed-Rate Mortgage: 3.875%, 1.375 discount points, 3.989% APR
15-Year Fixed-Rate Mortgage: 3.250%, 1.000 discount points, 3.394% APR
7/1 Adjustable Rate Mortgage (ARM): 3.125%, 1.000 discount points, 3.136% APR
5/1 Adjustable Rate Mortgage (ARM): 3.000%, 1.000 discount points, 3.078% APR

Chase Refinance Rates

30-Year Fixed-Rate Mortgage: 4.125%, 1.000 discount points, 4.209% APR
15-Year Fixed-Rate Mortgage: 3.375%, 1.000 discount points, 3.520% APR
7/1 Adjustable Rate Mortgage (ARM): 3.250%, 1.125 discount points, 3.205% 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

In other mortgage-related news, 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, edged down 7.6% on a seasonally adjusted basis in the week ended May 29. Loan applications for mortgage refinancing slipped 12%, according to the organization’s data. The Purchase Index fell 3% in the said period. The refinance share of total mortgage applications fell to 49% from the previous 51%, according to the latest data.

On the other hand, the share of ARMs headed lower to 6.1% from 6.4% in the prior week. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications increased to 14.9% from the former 14.5% that it carried before. Now, the share of VA loan applications edged up at 12%, according to the weekly survey. The share of USDA mortgage applications climbed in the said period, these type of loans account for 1.0% of all mortgage applications.

The average contract interest rate on the 30-year fixed mortgage headed lower by 5 basis points to 4.02%, according to the MBA. As far as the 15-year FRM is concerned, the average rate came in at 3.27%, a downtick of 2 basis points, according to the MBA’s data.

Freddie Mac, which is based in McLean, VA, reported on Thursday, that the average rate on the 30-year fixed loan remained unchanged at 3.87%. Meanwhile, the interest rate on the shorter-term 15-year fixed loan declined to 3.08% during the week. Previously this type of mortgage loan was hovering at a rate of 3.11%, according to the firm.

Consumer financial services company, Bankrate also published its weekly mortgage survey, which showed that the interest rate on the 30-year mortgage edged up to 4.03% this week. The interest rate on the shorter-term, 15-year mortgage rose at 3.26%, according to the the latest data. The current rate on the 5/1 adjustable rate mortgage ticked up in the company’s latest survey, this type of loan is now hovering at 3.18%.

For further 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 check the financial institution’s website.