BB&T Publishes Higher Mortgage Interest Rates on January 6, 2014
The first Monday of a new year didn’t bring a piece of good news for the home loan seekers. The benchmark 30 year fixed mortgage interest rates took a higher ground on January 6, 2014 at the Branch Banking and Trust (NYSE: BBT). The North Carolina based mortgage lender did please the borrowers by keeping its lending rates unchanged last week. However, the new home purchase and the refinancing loan options, available with the bank, are now coming out at higher interest rates.
Today, the mortgage shoppers can see the standard 30 year fixed rate mortgage home loans being traded at a higher interest rate of 4.125% and coming out with an annual return rate of 4.280% as per the newly released mortgage information by the bank. In the short term lending zone, the customers can land on the 15 year fixed rate mortgage packages, which are now traded at a new interest rate of 4.625% and are offering an impressive APR yield of 5.115% today.
In the exclusive lending zone, the admirers of midterm financing options can find the 20 year fixed rate mortgage deals being published against a lending charge of 3.500% and providing an annual return of 4.127%. However, the shortest, 10 year fixed rate mortgage loan plans are traded at an interest cost of 4.125% and an APR yield of 4.807% on January 6, 2013.
Switching to the popular refinancing loan options, the customers can find the 30 year fixed rate mortgage home loans trading at an interest rate of 4.125% and an APR yield of 4.280%. On the other hand, the short term, 15 year counterpart of the 30 year refinancing fixed rate mortgage schemes, are now being advertised at an interest rate of 4.625% and are carrying an annual return rate of 5.115%.
For the borrowers who find 30 years to be a very long time period and 15 years plans on the shorter end, the bank offers midterm, 20 year refinancing fixed rate mortgage loans at a rate of 3.500% and an APR yield of 4.127%. However, the shortest, 10 year refinancing fixed rate home loans can be had by paying an interest cost of 4.125% and enjoying an APR yield of 4.807% today.
The mortgage interest rates published by banks fluctuate on the basis of the upward and downward movements in the rates of mortgage backed securities, which generally trail the stock market movements.
However, as the stock market closed with a sudden fall and left the DJIA index stuck at 15337.70, BB&T decided to part its way from the stock market and published its rates independently. Regardless of the rates, the stock price of BBT shares rose by +1.13% and touched a new price mark of 35.72.
Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.