Following the trail of other major mortgage lenders, Branch Banking and Trust (NYSE: BBT) also made no changes to its benchmark 30 year fixed mortgage interest rates on December 16, 2013. This Monday did not bring about any surprise, pleasant or shocking, for the potential home buyers and listed all its home purchase and refinancing loan options at the same interests as last week.
Today, the potential home buyers will have to bear an interest charge of 4.000% and an annual percentage rate of 4.122% if they are to finance their dream home with the 30 year fixed rate mortgage loans. On the other hand, the customers looking forward to take the shorter route to home financing, the popular 15 year fixed rate mortgage home loans would appear to be a good choice at an interest rate of 4.500% and an APR yield of 5.012% to start with.
For the borrowers, who are keen on finding a safe haven between the long term and short term loan options, BB&T provides the unique, 20 year fixed rate mortgage loans at an interest cost of 3.375% and an APR yield of 4.021% today. However, the financing options with the shortest tenure, the 10 year fixed rate mortgage options, stand published at a rate of 4.000% and carry an APR yield of 4.648%.
As far as the refinancing loan options are considered, BB&T publishes the standard 30 year refinancing fixed rate mortgage loans in its portfolio at a rate of 4.000%, which are backed by an APR yield of 4.122%. When it comes to the short term refinancing deals, the bank offers its best 15 year refinancing fixed rate mortgage home loans at a lending charge of 4.500% and an APR yield of 5.012% today.
In the exclusive lending category, BB&T provides the unique 20 year refinancing fixed rate mortgage options against a lending charge of 3.375%, which come along with an APR yield of 4.021%. On the other hand, the 10 year refinancing fixed rate home loan deals can be had by bearing an interest burden of 4.000% and an annual percentage return of 4.648%.
The mortgage interest rates published by the banks are usually affected by the change in the price of mortgage related bonds and securities, which generally follow the footsteps of stock markets. Since the Wall Street experienced a fall at the end of the trading day and left the DJIA index hanging at 15337.70, BB&T blindly followed the market movements and quoted its rates accordingly. However, the BBT stock prices experienced improvement by the end of the trading session and rose up to the 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.