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Mortgage Interest Rates at BB&T Experienced a Spike on March 13, 2014

Mortgage Interest Rates at BB&T Experienced a Spike on March 13, 2014

Business

Mortgage Interest Rates at BB&T Experienced a Spike on March 13, 2014

After publishing improved mortgage interest rates yesterday, Branch Banking and Trust (NYSE: BBT) decided to take to its benchmark 30 year fixed mortgage interest rates to a higher level on March 13, 2014. In the new mortgage information published by the bank this Thursday, the potential home buyers will find the ideal home purchase loans being traded at higher interest rates, as against the interest rates quoted yesterday.

As of now, in the standard, long term lending division, the interested mortgagors can spot the 30 year fixed rate mortgage home loan deals at an interest rate of 3.875% and an annual percentage rate of 3.987% today. However, the mortgage shoppers, who are interested in taking the short cut, can spot the 15 year fixed rate mortgage home loan deals published in the bank’s books against a lending charge of 4.375% and an APR yield of 4.920% today.

For the potential borrowers, who aren’t really impressed by the long term home loan deals and find the short term plans to be a bit expensive, the bank is currently offering its unique, midterm, 20 year fixed rate mortgage home loan deals at an interest price of 3.375% and an APR yield of 3.948%. On the other hand, the shortest, 10 year fixed rate mortgage home loan plans can be locked in at an interest cost of 3.875% and an annual percentage yield of 4.511% today.

In the refinancing mortgage arena, the mortgage shoppers can come across the popular 30 year fixed rate mortgage home loan plans being published in the bank’s loan portfolio against a lending price of 3.875% and being backed by an annual return rate of 3.9875 today. Alternatively, the short term, 15 year counterparts of the 30 year refinancing fixed rate mortgage packages can be locked in at an interest rate of 4.375% and an APR yield of 4.920% this Thursday.

In the exclusive home loan division, the bank is currently offering its midterm, 20 year refinancing fixed rate mortgage loans at an interest rate of 3.375% and an APR yield of 3.948% today. However, the interest home loan borrowers can also find the shortest, 10 year fixed rate mortgage deals being published against an interest price of 3.875% and being backed by an annual return rate of 4.511% today.

Mortgage rates published by banks are normally affected by the changes in the prices of mortgage backed bonds and securities, which often follow the footsteps of the stock markets. As the Wall Street lost its ground by the end of the trading day and left the DJIA index hanging around 15337.70, the bank moved in the same direction for quoting its interest rates. However, the stock price of BBT shares gained some ground and touched a new price point of 35.72 after a hike of +1.13% 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.

About Stephany Wilson

Stephany Wilson covers business and finance related news.

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