This Tuesday, at the US based mortgage lender, Branch Banking and Trust (NYSE: BBT), the potential home buyers will find no absolute change in the interest rates at which the standard home purchase loans are being published in the loan books. As per the new mortgage information released by the bank on March 11, 2014, the benchmark 30 year fixed mortgage interest rates are hanging around the same spot as yesterday.
Today, in the long term home loan section, the borrowers can find the standard, 30 year fixed rate mortgage home loans being published against an interest rate of 3.875% and carrying an annual percentage rate of 3.998%. However, in the short term lending division, the 15 year fixed rate mortgage loans can be found coming out at an interest rate of 4.375% and an APR yield of 4.931% today.
For the borrowers, who find 30 years to be quite long for a home loan and aren’t satisfied with the interest rates that accompany the 15 year deals, the bank is offering its unique, midterm, 20 year fixed rate mortgage loans at a lending price of 3.375% and an APR yield of 3.966% today. On the other hand, the shortest, 10 year fixed rate mortgage deals are being advertised at an interest cost of 3.875% and an APR yield of 4.522% today.
Heading towards the refinancing section, the home loan seekers can find the popular 30 year fixed rate mortgage loan options being published against a lending charge of 3.875% and an APR yield of 3.998% today. Alternatively, the short term, 15 year refinancing fixed rate mortgage home loan plans can be acquired at an interest price of 4.375% and an APR yield of 4.931% this Tuesday.
As far as the flexible home loan deals are considered, the bank publishes its exclusive, midterm, 20 year refinancing fixed rate mortgage home loans at an interest rate of 3.375% and an APR yield of 3.966% today. However, the shortest, 10 year refinancing fixed rate mortgage home loan plans can be locked in at an interest rate of 3.875% and an annual return rate of 4.522%.
The mortgage interest rates published by banks are normally affected by the change in the prices of mortgage backed financial bonds and securities, which follow the stock market movements closely. As the stock market waned by the end of the trading day and left the DJIA index at 15337.70, the bank moved along the same direction and quoted its lending rates. However, regardless of the interest rates, the stock price of BBT shares reached a new price mark of 35.72 after a hike of +0.40 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.