Latest Mortgage Rates: Current Refinance Rates and Home Purchase Loans at Chase for April 30

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Latest Mortgage Rates: Current Refinance Rates and Home Purchase Loans at Chase for April 30U.S. home loan provider, Chase (NYSE:JPM) updated its mortgage information for Thursday, April 30, which is discussed below. This bank offers excellent 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 loans at this bank.

Chase Home Purchase Rates

30-Year Fixed-Rate Mortgage: 3.625%, 1.375 discount points, 3.737% APR
15-Year Fixed-Rate Mortgage: 2.875%, 1.375 discount points, 3.072% APR
7/1 Adjustable Rate Mortgage (ARM): 3.000%, 1.000 discount points, 3.078% APR
5/1 Adjustable Rate Mortgage (ARM): 2.750%, 1.000 discount points, 2.991% APR

Chase Refinance Rates

30-Year Fixed-Rate Mortgage: 4.000%, 0.625 discount points, 4.052% 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, 3.195% APR
5/1 Adjustable Rate Mortgage (ARM): 2.875%, 1.125 discount points, 3.045% 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

Switching to mortgage application activity, the Mortgage Bankers Association (MBA) released the results of its latest weekly survey during this week. According to the MBA’s data, the Market Composite Index, which measures overall mortgage application activity, ticked down 2.3% on a seasonally adjusted basis in the week ended April 24. Loan applications for mortgage refinancing drifted lower 4%, according to the organization’s data. The Purchase Index stayed firm in the said period. The refinance share of total mortgage applications fell to 55% from the previous 56%, according to the MBA’s survey.

On the other hand, the share of ARMs surged to 5.7%. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications rose to 13.7% from the former 13.6% that it carried before. Now, the share of VA loan applications soared to 11.3%, according to the weekly survey. The share of USDA mortgage applications remained steady 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 advanced by 2 basis points to 3.85%, according to the MBA. As far as the 15-year FRM is concerned, the average rate is standing at 3.14%, an uptick of 3 basis points, according to the MBA’s data.

Virginia-based housing finance company, Freddie Mac reported last week, that the average rate on the 30-year fixed loan improved to 3.65% from the previous 3.67%. Meanwhile, the interest rate on the shorter-term 15-year fixed mortgage drifted lower to 2.92% last week. A week earlier this type of mortgage loan was hovering at a rate of 2.94%, according to the organization.

Consumer financial services company, Bankrate also released its weekly mortgage survey, which revealed that the interest rate on the 30-year conventional loan remained unchanged at 3.79% during the past week. The interest rate on the shorter-term, 15-year mortgage has been firm at 3.03%, according to the survey. The interest rate on the 5/1 adjustable rate mortgage drifted higher in Bankrate’s survey, this type of mortgage is now hovering at 3.09%.

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 lender’s website.