Today’s Mortgage Rates: Current Refinance Rates at Home Purchase Loans at Chase for March 12

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Current Mortgage Interest RatesChase (NYSE:JPM), which is an established loan provider in the country, updated its mortgage information for Thursday, March 12. For updated details on the bank’s mortgage rates and annual percentage rates (APRs), please check the data below. Chase provides 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 financial institution.

Chase Home Purchase Rates

30-Year Fixed-Rate Mortgage: 3.500%, 1.125 discount points, 3.591% APR
15-Year Fixed-Rate Mortgage: 2.875%, 0.750 discount points, 2.982% APR
7/1 Adjustable Rate Mortgage (ARM): 2.750%, 1.250 discount points, 2.983% APR
5/1 Adjustable Rate Mortgage (ARM): 2.750%, 0.875 discount points, 2.982% APR

Chase Refinance Rates

30-Year Fixed-Rate Mortgage: 3.875%, 1.000 discount points, 3.957% APR
15-Year Fixed-Rate Mortgage: 3.375%, 0.750 discount points, 3.483% APR
7/1 Adjustable Rate Mortgage (ARM): 3.250%, 1.125 discount points, 3.205% APR
5/1 Adjustable Rate Mortgage (ARM): 3.125%, 1.000 discount points, 3.122% 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

As far as total mortgage application activity is concerned, the Mortgage Bankers Association (MBA) disclosed the results of its latest weekly survey this mid-week. According to the MBA’s data, the Market Composite Index, which measures overall mortgage application activity, declined 1.3% on a seasonally adjusted basis in the week ended March 6. Loan applications for mortgage refinancing ticked down 3%, according to the organization’s data. The Purchase Index improved 2%. The refinance share of total mortgage applications declined to 60% from the previous 62%, according to the MBA’s survey.

On the other hand, the share of ARMs rose to 5.6%. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications slipped to 14% from the previous 14.6% that it carried before. Now, the share of VA loan applications ticked up to 10.8%, according to the weekly survey. The share of USDA mortgage applications remained unchanged 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 surged by 5 basis points to 4.01%, according to the MBA. This marks the highest rate for this type of mortgage loan since the week ending January 2, 2015. As far as the 15-year FRM is concerned, the average rate is standing at 3.29%, an increase of 2 basis points, according to the MBA’s data. The current rate on the 15-year fixed loan is the highest since the week ending December 26, 2014.

Virginia-based housing finance company, Freddie Mac said this week, that the interest rate on the 30-year fixed mortgage ticked down to 3.86% from the previous 3.75%. On the other hand, the average rate on the shorter-term 15-year fixed loan fell to 3.10% this week. Previously this type of mortgage loan was hovering at a rate of 3.03%, according to the housing giant.

Consumer financial services company, Bankrate also released its weekly mortgage survey, which revealed that the interest rate on the 30-year mortgage increased to 3.97% this week. The interest rate on the shorter-term, 15-year mortgage ticked up by 2 basis point to 3.18%, according to the the latest data. The interest rate on the 5/1 adjustable rate mortgage dropped in the company’s survey, this type of mortgage is now standing at 3.23%.

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 visit to the bank’s website.