American lender, Capital One (NYSE:COF) updated its mortgage information for March 6, 2015, which is discussed below. The lender has been providing attractive 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 lender.
Capital One Mortgage Rates
15-Year Fixed Mortgage: 3.125%, -0.250 discount points, 3.216% APR
30-Year Fixed Mortgage: 3.625%, 0.375 discount points, 3.707% APR
5/1 Adjustable Rate Mortgage (ARM): 2.750%, 0.125 discount points, 2.891% APR
7/1 Adjustable Rate Mortgage (ARM): 3.000%, 0.125 discount points, 2.991% APR
The rate information provided assumes the purpose of the mortgage loan is to purchase a property, a single family home to be used as a primary residence with a loan amount of $250,000. The interest rate reflects a 60 day rate lock period. Please, note 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. The actual mortgage interest rate will depend on a number of factors including but not limited to loan type, credit profile, property type, appraised value, occupancy and loan size.
Freddie Mac, which is based in McLean, VA, announced this Thursday, that the average rate on the 30-year fixed loan improved to 3.75% from the former 3.8%. In addition, the average rate on the shorter-term 15-year fixed loan decreased to 3.03% this week. A week earlier this type of mortgage loan averaged a rate of 3.07%, according to the firm.
Bankrate also disclosed its weekly mortgage survey, which showed that the interest rate on the 30-year mortgage jumped to 3.93% this week. The interest rate on the shorter-term, 15-year mortgage rose by 1 basis point to 3.16%, according to the the latest data. The interest rate on the 5/1 adjustable rate mortgage escalated in the company’s survey, this type of mortgage is now standing at 3.28%.
For further details on the latest home purchase and refinance mortgage interest rates at Capital One, as well as information on borrowing terms and conditions and loan assumptions, please take a look at the financial institution’s website.