Current Mortgage Rates Nearly Unchanged – (PNC, JPM, C, WFC)

Mortgage interest rates showed almost no change but edged up as investors have shifted their focus on steps by central banks. Not all loan providers have lifted their rates. PNC Financial Services (NYSE:PNC) and BofA increased them; however JPMorgan Chase and Wells Fargo reduced their lending rate.

The average interest rate on 30-year fixed-rate mortgages rose under one point to 3.632 percent.
The gap between the 10-year bond rate and the 30-year loan yield increased five bps to 2.102 percent. The average rate on FHA-backed 30-year fixed-rate mortgages dropped one basis point to 4.079 percent and the average VA loan rate decreased 3 basis point to 3.890 percent.

The average interest rate on 15-year fixed-rate mortgages grew not more than one point to 3.135 percent. No changes to 15-year rates has been made by WFC and PNC; however WFC reduced their 5-year ARM and 5-year FHA ARM rate. Wells Fargo & Company reduced their conventional 30-year loan rate 13 bps to 3.93 percent while maintaining the FHA loan rate. PNC Financial Services has lifted their 30-year conventional rate two bps to 3.64 percent.

JPMorgan Chase & Co. (NYSE:JPM)

Shares of JPMorgan Chase & Co. (NYSE:JPM) declined after a federal judge refused JPMorgan Chase & Co’s offer to discharge a grievance condemning it of misleading thousands of cash-strapped homeowners nationwide about changing their mortgages.

JPMorgan Chase & Co. (NYSE:JPM) dropped -2.03% and closed at $36.14 million shares with the total traded volume of 30.70 million shares. It has market capitalization of 137.22 billion while its total outstanding shares are 3.80 billion and its beta value stands at 1.32 times.

Citigroup Inc. (NYSE:C)

Citigroup Inc. (NYSE:C) declined 0.59% with the closing price of $27.14. The overall volume in the last trading session was 26.26 million shares. Its fifty two week range was $21.40-$39.38. The total market capitalization remained $79.59 billion.

C is ahead its 52 week low with 26.93% and its last month price volatility remained 2.20%. Its beta coefficient was 2.56 with a target price of $39.56. In its share capital C has 2.93 billion outstanding shares and all shares have been floated in market. Company’s current year earnings per share grew with 1.18% while the five year EPS growth rate was +8.67%.

Wells Fargo & Company (NYSE:WFC)

Wells Fargo Funds Management, LLC, declared the monthly dividend of $0.10 per share and $0.07 per share for the Wells Fargo Advantage Income Opportunities Fund (NYSE Amex: EAD), the Wells Fargo Advantage Multi-Sector Income Fund (NYSE Amex: ERC), and the Wells Fargo Advantage Utilities and High Income Fund (NYSE Amex: ERH).

Wells Fargo & Company (NYSE:WFC) slipped -0.54% and closed at $33.96 with the total traded volume of 14.62 million shares. WFC has earnings per share of $3.03 with the net profit margin of 20.88% and operating margin of 31.19%. Its price to earnings ratio ended at 11.21.

 

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