Lately, defying the unvarying market changes and other economic factors affecting the overall structure of the home loans on a daily basis, Branch Banking and Trust (NYSE: BBT) managed to hold on to its ground and quote unchanged benchmark 30 year fixed mortgage interest rates on February 20, 2014. Though the standard long term and short term deals carried the same lending rates, the exclusive home loans experienced a minor movement this Thursday.
Today, the eligible home loan borrowers, who are planning on making a realty investment, can acquire the standard, 30 year fixed rate long term mortgage home loans at an interest rate of 3.750% and an annual percentage rate equivalent to 3.893%. However, in the short term financing section, the bank publishes its best 15 year fixed rate mortgage home loan packages against a lending charge of 4.375% and an APR yield of 4.920% today.
For the those who find 30 year home financing deals to be a bit expensive and aren’t satisfied with the annual return rates offered by the bank with its 15 year plans, BB&T is now offering its exclusive, midterm, 20 year fixed rate mortgage home loan deals at an interest rate of 3.250% and an APR yield of 3.915% today. On the other hand, the shortest, 10 year fixed rate mortgage home loans can be locked in at an interest rate of 3.750% and an annual return rate of 4.417% today.
Normally, the mortgage interest rates quoted by the banks fluctuate on the basis of the price movement experienced by the mortgage backed financial bonds and securities, traded by banks in the financial markets, which are known to follow the stock market movements on any normal trading day.
Towards the end of the trading day, as the stock market plummeted and left the DJIA index handing around 15337.70, after a fall of -113.35, the Bank moved along the same path of quoting its interest rates today. However, irrespective of the interest rates, the stock price of BBT shares moved towards the higher point and closed at a new price point of 35.72 after a rise of +0.40.
Following up on the case of robbery at the 2901 North Ashley Street branch of the BB&T Bank in Valdosta, the police have released the sketch of the robber, who has been identified as 28-year-old Eric Bernard Davis with the help of several locals calling on the tip line. Eric entered by the bank Friday morning and demanding an unidentified amount of money from the clerk, after which, he managed to flee from the spot on foot.
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.