Mortgage rates at Chase (NYSE:JPM) held steady on Thursday for the most part, as only slight changes have been made, according to the latest published rate information. The 7/1 adjustable rate loan for home refinancing now carries 2.750% in interest, which is a tad higher, than yesterday’s 2.625%. The 5/1 ARM is still offered at a rate of 2.250%. Switching to fixed loans for mortgage refinancing, the 30-year FRM is now available at a rate of 3.750%, which is a competitive deal if we compare it to similar offerings from other lenders. As for the 15-year fixed package, it can be picked up at a rate of 2.750% as of Thursday. Home purchase loans didn’t have much movement today. 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 loan, may find some ideal loan options at this lender.
Chase Home Purchase Rates
30-Year Fixed-Rate Mortgage: 3.625%, 1.000 discount points, 3.706% APR
15-Year Fixed-Rate Mortgage: 2.750%, 1.375 discount points, 2.947% APR
5/1 Adjustable Rate Mortgage (ARM): 2.250%, 1.000 discount points, 2.817% APR
7/1 Adjustable Rate Mortgage (ARM): 2.500%, 1.000 discount points, 2.847% APR
Chase Refinance Rates
30-Year Fixed-Rate Mortgage: 3.750%, 1.000 discount points, 3.832% APR
15-Year Fixed-Rate Mortgage: 2.750%, 1.375 discount points, 2.947% APR
5/1 Adjustable Rate Mortgage (ARM): 2.500%, 0.875 discount points, 2.892% APR
7/1 Adjustable Rate Mortgage (ARM): 2.750%, 0.875 discount points, 2.951% 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.
As far as national average rates are concerned, Freddie Mac said this Thursday, that the rate on the 30-year fixed loan inched up to 3.52%. A week earlier this loan carried a rate of 3.51%. The average rate on the 15-year FRM was unchanged at 2.76% this week, Freddie Mac reported.
With regards to US mortgage application activity, an industry group reported on Wednesday, that the Market Composite Index, which measures home purchase and refinance applications, increased 14.8% in the week ended March 1. The seasonally adjusted Refinance Index was up 14.8%, while the purchase activity dipped 15%, according to the latest figures from the Mortgage Bankers Association (MBA). The share of refinance applications out of total mortgage activity remained firm at 77%.
For the latest information on current mortgage rates at Chase, as well as details on loan assumptions and borrowing terms and conditions, please check the lender’s website.
