Connect with us

Higher Mortgage Home Loan Rates at BB&T on February 13, 2014

Higher Mortgage Home Loan Rates at BB&T on February 13, 2014


Higher Mortgage Home Loan Rates at BB&T on February 13, 2014

6After remaining steady for nearly a week, US-based mortgage provider, Branch Banking and Trust (NYSE:BBT), pushed its mortgage rates up slightly on February 13, following other major lenders.

Eligible borrowers will see the benchmark 30-year fixed rate mortgage offered at 3.750% today with an APR of 3.893%. The shorter-term 15-year mortgage is available at 3.375% with an APR of 3.479%.

Most Popular Loans at BB&T

A 30-year fixed VA loan is advertised with a rate of 3.750% and a 3.842% APR, while a 30-year fixed rate FHA loan has a rate of 3.750% and a 3.989% APR for the most qualified borrowers.

Consumers who want to refinance a mortgage will find competitive rates at BB&T. A 30-year fixed rate loan can be refinanced at 4.375% with a 4.482% APR, while a 15-year fixed-rate mortgage will offer a better rate of 3.375% and a 3.558% APR. Consumers who wish to refinance into the lowest fixed rate can obtain a 10-year mortgage at 3.125% and a 3.337% APR.

BB&T also provides adjustable rate mortgages to qualified borrowers. Consumers who buy a home with a 5-year ARM can get a rate of 2.750% with a 2.817% APR. Consumers may also refinance into a 5-year ARM at the same rate with a slightly lower APR of 2.808%. This is the lowest advertised mortgage rate at BB&T on Thursday, February 13.

Consumers who want the lower rates of an ARM but more stability in the long run may also opt for a 10-year ARM from BB&T with a rate of 3.50% and a 3.591% APR.

Mortgage Trends

Mortgage rates moved up slightly today after four weeks of declines, with the average 30-year fixed-rate being offered at 4.28%, up from 4.23% last week. The average rate for a 15-year fixed rate mortgage remained unchanged at 3.33%.

Mortgage rates have moved down in 2014 on poor economic data, but rates are likely to continue an upward trend through 2014.

The quotes listed above assumes a purchase price of $240,000 on a single-family home with a 20% down payment in Ohio for a home buyer with a credit score higher than 750.

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.

More in Business

Good News


To Top