Following the footsteps of several other banks in the US mortgage market, Banking Branch and Trust (NYSE: BBT) also publishes higher interest rates on November 22, 2013. The interest borrowers will now have to deal with increased 30 year fixed mortgage interest rates for fulfilling their home financing needs.
Lifting from yesterday’s position, BB&T published its standard 30 year fixed rate mortgage loans at a higher interest rate of 3.875%, carrying an annual percentage yield of 3.987% today. The popular short term, 15 year fixed rate mortgage deals are now quoted at an interest charge of 4.375% and come along with an APR yield of 4.876%.
Under its exclusive financing category, the bank publishes the unique 20 year fixed rate mortgage plans at a rate of 3.250%, along with an APR yield of 3.914%. On the other hand, the shortest, 10 year fixed rate home loans are now available for the borrowers who are willing to bear an interest charge of 3.875% and an APR yield of 4.510%.
Not only the fixed rate mortgages, but the refinancing loan schemes have also been quoted at rocketed rates of interest. The benchmark 30 year refinancing fixed rate mortgage deals have been published at an interest rate of 3.875% and yield an APR yield of 3.987%. The relatively short term, 15 year refinancing, fixed rate mortgage loans is now available at a rate of 4.375% and an APR yield of 4.876%.
For the out-of-the-ordinary customers, the bank provides unique 20 year refinancing fixed rate home financing options at a rate of 3.250% and an APR yield of 3.914% today. On the contrary, the financing options with the shortest time period, the 10 years refinancing fixed rate mortgage options are quoted at a rate 3.875% and yield an APR of 4.510%.
With total assets worth $182.7 Billion, Banking Branch and Trust has been ranked as the 12th largest bank in the United States according to the latest quarterly report published by the SNL Financial LLC this Thursday.
Though the total value of the assets was down by $1.2 Billion in comparison to the figures shown in the report published on 27 September, the bank continues to hold the same spot in the overall ranking. With the current amount of assets, BB&T leads the Sun Trust Banks Inc. by about $9.3 Billion. It is only a matter of time when BB&T leaves behind the tenth place holder TD Bank Co. and enters the top 10.
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.
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