After publishing improved mortgage interest rates yesterday, Branch Banking and Trust (NYSE: BBT) did not make any absolute change in the rates at which the new home purchase and refinancing deals are coming out on January 24, 2014. The borrowers interested in financing their home investments through BB&T bank will find no immediate change in the benchmark 30 year fixed mortgage interest rates this Friday.
In the new mortgage charts published by the US based mortgage lender towards the end of this week, the standard, 30 year long term, fixed rate mortgage home loans are advertised at an interest rate of 3.875% and are carrying an annual percentage rate of 3.986%. Alternatively, the customers can also secure the short term, 15 year fixed rate mortgage deals at an interest rate 4.375% and an APR yield of 4.929% today.
For the borrowers who find 30 years to be a long time for standard home loans and are not happy with the expensive interest rates of short term loans, the bank offers its midterm, 20 year fixed rate mortgage home loans at an interest rate of 3.375% and an impressive APR yield of 4.020% today. The shortest, 10 year fixed rate mortgage home loans are carrying an interest price of 3.875% and are backed by an APR yield of 4.509% today.
When it comes to the refinancing loan department, the interested borrowers can find the best 30 year fixed rate mortgage home loans coming out at an interest rate of 3.875% and an APR yield of 3.986% today. Alternatively, the shorter, 15 year refinancing fixed rate mortgage deals can also be had at a lending cost of 4.375% and an APR yield of 4.929% this Friday.
In the exclusive refinancing division, the potential borrowers can spot the midterm, 20 year fixed rate mortgage packages coming out at an interest rate of 3.375% and an APR yield of 4.020% today. However, the shortest, 10 year refinancing fixed rate mortgage plans can be locked in at an interest price of 3.875% and an APR yield of 4.509% to begin with.
The mortgage rates quoted by the banks in their loan books often change on the basis of change in the price of mortgage backed bonds and securities, which move along with the movements experienced by stock markets. As the financial market lost its ground by the end of the trading day, leaving the DJIA index behind at 15337.70, BB&T followed the same pattern for publishing its mortgage rates. However, the share prices of BBT stock touched new heights after tasting a hike of +0.40.
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.