After dealing with its fair share of ups and downs, the benchmark 30 year fixed mortgage interest rates at Branch Banking and Trust (NYSE: BBT) found a steady ground on March 5, 2014. According to the new mortgage rate information made available to the public today, the standard home purchase and refinancing home loans are coming out at the same interest rates as yesterday, thereby making no change in the overall demand of BB&T loan products in the market.
As of now, in the long term home section of the bank’s loan portfolio, the standard 30 year fixed rate mortgage home loan deals are coming out at an interest rate of 3.625% and are backed by an annual percentage rate of 3.893% today. On the other hand, the relatively shorter, 15 year fixed rate mortgage home loan plans are coming out at an interest price of 4.250% and an APR yield of 4.772% today.
On the contrary, the borrowers, who aren’t really drawn towards the standard 30 year and 15 year home mortgage deals, can find ideal solutions in the exclusive lending division of BB&T bank. This Wednesday, the midterm, 20 year fixed rate mortgage home loans are coming out at an interest rate of 3.250% and are accompanied by an APR yield of 3.859% today. The shortest, 10 year fixed rate mortgage home loan deals can be had at an interest rate of 3.625% and an annual return rate of 4.418% today.
Heading towards the refinancing mortgage section, the interested customers can find the popular 30 year fixed rate mortgage home loan deals being advertised at an interest rate of 3.625% and an APR yield of 3.914%. However, the short term, 15 year refinancing fixed rate mortgage home loan plans can be had at an interest cost of 4.250% and an annual percentage yield of 4.783% today.
In the unique home loan section, the bank is now offering its midterm, 20 year refinancing fixed rate mortgage schemes at a lending rate of 3.250% and an APR yield of 3.859% today. However, the shortest, 10 year refinancing fixed rate home loan plans can be locked in at an interest cost of 3.625% and an APR yield of 4.440% today.
The mortgage rates quoted by banks move up and down depending upon the changes in the prices of mortgage backed bonds and securities, which move along the stock market on any normal trading day. As the Wall Street plummeted close to the end of the trading day and left the DJIA index at 15337.70, BB&T moved in the same direction for quoting its interest rates. However, the stock price of BB&T shares moved up by +1.13% and closed at a new price mark of 35.72.
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.