In the exclusive home financing section, the bank now quotes its midterm, 20 year fixed rate mortgage home loan packages, for the borrowers who aren’t drawn towards the long term deals and find the short term deals to be quite expensive, at a lending rate of 4.000% and an annual return rate of 4.546%. For the seekers of the shortest home loan packages, the bank now offers its best, 10 year fixed rate mortgage home loans, at an interest rate of 3.000% and an APR yield of 3.714% today.
Mortgage interest rates published by the banks tend to move upward or downward depending upon the changes in the prices of mortgage backed financial bonds and securities, which are known to move along with the stock market indexes on any normal trading day. As the Wall Street waned towards the end of the trading day and closed at a reduced DJIA index of 15337.70, BB&T chose to follow the trail blindly and published its mortgage rates accordingly. Irrespective of the lending rates, the stock prices of BBT shares improve by +0.40 price points and closed at a new level of 35.72 by the end of the trading day.
Lately, BB&T Corp announced that it will be paying quarterly dividend to its shareholders in June 2014. The bank will now distribute dividends with a hike of 4.3%, making the amount of dividend equivalent to $0.24, which is 1% higher than the dividend paid by BB&T in the last quarter. In comparison to the dividend distributed during the same time of the year in 2013, the bank is paying out a cent higher dividend to the shareholders this year.
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