After enjoying a steady ride for over a month now, the US based mortgage lender, Branch Banking and Trust Corp (NYSE: BBT) decided to give special treatment to its customers by publishing somewhat relaxed benchmark 30 year fixed mortgage interest rates on May 2, 2014. Today, the borrowers, who are planning on acquiring standard home purchase or refinancing home loans from BB&T, will find the ideal deals coming out at somewhat improved interest rates.
For the potential home buyers, who find the standard 30 year home loan deals to be a bit expensive and aren’t really impressed by the 15 year home loans as well, the bank offers an opportunity to settle with the mortgage options having a mid-term tenure. As of now, in its exclusive lending section, the bank offers 20 year fixed rate mortgage home loans at an interest rate of 4.000% and an APR yield of 4.532% today. Alternatively, the fixed rate mortgage home loan packages with shortest time period of 10 years can now be locked in at an interest rate of 2.875% and an APR yield of 3.641% this Friday.
The mortgage interest rates quoted by the bank fluctuate on the basis of changes experienced by the price of mortgage backed bonds and securities, which are known to track the movements of the stock market on any normal trading day. As expected, when the stock market waned by the end of the trading day, leaving the DJIA index stranded at 15337.70, BB&T decided to follow its lead and publish its mortgage interest rates for today. Irrespective of the mortgage rates, the stock prices of BBT shares increased by +0.40 and touched a new price mark of 35.72.
Lately, in the JD power ranking of the best bank in terms of retail customer satisfaction in the Southeast, BB&T Bank landed on the third spot, with a score of 815. The first position was occupied by United Community Bank with a score of 854 and the second spot was taken by First Citizens Bancorp, with a score of 836, out of a possible score of 1000.