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BB&T Mortgage Rates Experience a Rough Landing

BB&T Mortgage Rates Experience a Rough Landing


BB&T Mortgage Rates Experience a Rough Landing

BB&T Mortgage Rates Experience a Rough LandingThe best fixed rate mortgage rates at BB&T Bank (NYSE: BBT) plummeted a bit in the books and managed to touch the 3.625% mark, yielding an annual percentage return of about 3.839%. As far as the 20 year based fixed rate loans are concerned, they can be obtained from the North-Carolina based mortgage lender at a rate of 3.125% and an APR of 3.750%.

The ever popular 15 year fixed rate mortgages also experienced the plight and have been quoted at 4.125% and an impressive APR of 4.623% to start with. Last, but certainly not the least, the short-term 10 year fixed rate home financing products can be acquired at a rate of 3.625%, which also bear an impressive annual percentage rate of 4.636%.

Those looking forward to purchase a fixed Federal Housing Administration mortgage with a 30 year lock in period, the Brand Banking and Trust Corp. offers a starting interest rate of 3.625%, which yields an APR of 3.941% for today. Moreover, as per the latest book figures, the 30 year fixed VA loan options offered by the lender can also be availed at a same rate of 3.625%, but providing a different APR of 3.792%.

The benchmark 30 year refinance fixed rate mortgages can be obtained from the bank at a rate of 3.625%, along with a good APR of 3.828%. The popular 20 year refinance mortgages are quoted at a rate of 3.125% and yield an APR of 3.750%. The short-term refinancing loan option is, however, listed at higher rates in the bank’s books and can be acquired at 4.125% and an annual percentage rate of 4.623%. Lastly, the 10 year refinancing products come at 3.625% and have an APR of 4.352%.

These interest rates reflect a rate lock period of about 60 days. The actual interest rates are based on a huge number of factors, some of which include loan type, borrower’s credit status, type of property, occupancy, appraised value and the amount of loan.

You need to note that mortgage rates might remain the same in the future and could vary without any prior announcement from the bank. They are mainly affected by the geography, location and several other terms and conditions. The APR might also differ on the basis of discount points, average loan fees, origination charges and the closing costs.

Apart from this, the mortgage rates also tend to fluctuate because of the constant movement of MBSs with the stock market. Since the market went down, the DJIA closed at 15337.70 and the stock prices of BB&T enjoyed a hike of +1.13% and reached 35.72 up before the market closed.

Note: 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 Michael Reed

Michael Reed covers business and finance related news.

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