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BB&T Made No Change to its Mortgage Home Loan Rates on March 10, 2014

BB&T Made No Change to its Mortgage Home Loan Rates on March 10, 2014

Business

BB&T Made No Change to its Mortgage Home Loan Rates on March 10, 2014

This Monday, at the North Carolina based mortgage lender, Branch Banking and Trust (NYSE: BBT), the standard home purchase and refinancing home loan packages are coming out at unchanged interest rates. The bank did not make any change in its benchmark 30 year fixed mortgage interest rate figures, which are still moving along the same lines as last week.

Starting off with the long term home loan offerings of BB&T, the standard 30 year fixed rate mortgage home loan deals can be seen advertised at the same interest rate of 3.875% and being backed by an annual percentage rate of 4.008% today. However, for the seekers of short term financing options, the bank is currently offering its best 15 year fixed rate mortgage home loan plans at an interest rate of 4.375% and an APR yield of 4.942% today.

For the mortgage shoppers, who are keen on finding a midway solution to finance their home investment, the bank is offering its unique, 20 year fixed rate mortgage home loan deals at an interest cost of 3.375% and an APR yield of 3.985%. Alternatively, the shortest, 10 year fixed rate mortgage home loan deals can be secured at an interest rate of 3.875% and an annual return rate of 4.532% today.

When it comes to the refinancing home loan deals, the interested customers can opt for the popular 30 year fixed rate mortgage home loan deals, which are now being traded at an interest rate of 3.875% and are backed by an APR yield of 4.008%. On the other hand, the relatively shorter, 15 year counterparts of the 30 year refinancing fixed rate mortgage options can be locked in at an interest price of 4.375% and an APR yield of 4.942% today.

The potential borrowers, who aren’t happy with the return rates offered by 30 year deals and find the 15 year options overpriced, can find the exclusive, midterm, 20 year refinancing fixed rate home loans being traded at an interest rate of 3.375% and are backed by an annual return rate of 3.985% today. However, the shortest, 10 year refinancing fixed rate mortgage plans can be had at a lending price of 3.875% and an APR yield of 4.532% this Monday.

The mortgage rates quoted by banks are generally affected by changes in the price of mortgage backed financial securities, which generally move along the stock market movements. As the stock market waned towards the end of the trading day, leaving the DJIA index behind at 15337.70, BB&T followed its footsteps and quoted mortgage rates accordingly. However, the stock price of BBT shares increased by +1.13% and closed at 35.72 today.  

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.

About Stephany Wilson

Stephany Wilson covers business and finance related news.

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