In the present day volatile realty market and the sluggish economy, banks are trying their level best to help the potential home buyers by keeping their mortgage interest rates at the lower end. Branch Banking and Trust (NYSE: BBT), though, did not resort to cutting down the lending rates, managed to publish its ideal home purchase loan deals at unchanged interest rates on March 14, 2014.
As per the new mortgage information made available by the bank today, the standard, long term, 30 year fixed rate mortgage home loans are being traded at the same interest rate of 3.875% and an annual percentage rate of 3.987%. On the other hand, the relatively shorter, 15 year fixed rate mortgage loan packages can be locked in at an interest cost of 4.375% and an annual return rate of 4.909% today.
In the exclusive lending division, the bank is currently offering its midterm, 20 year fixed rate mortgage plans, for the borrowers who aren’t satisfied with the standard loan deals, at an interest rate of 3.375% and an annual percentage yield of 3.948%. However, the shortest, 10 year fixed rate mortgage home loan schemes can be secured by bearing an interest charge of 3.875% and agreeing to an APR yield of 4.511% today.
Shifting sights towards the refinancing mortgage section, the interested borrowers will find the popular 30 year fixed rate mortgage home loan plans being published against a lending rate of 3.625% and an APR yield of 3.903% today. On the other hand, the short term, 15 year counterparts of the 30 year refinancing fixed rate mortgage home loan plans can be acquired at a lending price of 4.375% and an APR yield of 4.866% this Friday.
When it comes to the exclusive home loan deals, the interested borrowers can spot the midterm 20 year refinancing fixed rate mortgage home loan plans being advertised at an interest rate of 3.250% and carrying an annual return rate of 3.896% today. However, the potential customers can also find the shortest, 10 year refinancing fixed rate home loan plans been published in the bank’s books against an interest price of 3.625% and an APR yield of 4.429%.
The mortgage interest rates quoted by banks generally move up and down depending upon the changes experienced by the prices of mortgage backed bonds and securities, which normally follow the stock market movements. As the stock market lost its ground towards the end of the trading day, leaving the DJIA index at 15337.70, BB&T moved in the same direction for quoting its interest rates. However, the stock price of BBT shares improved by +1.13% and closed at a new price mark of 35.72 today.
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.