In the present day market, driven by regular economic variations, it is difficult for the mortgage lenders to maintain steady home loan interest rates. However, defying the market movements, the US based mortgage provider, Branch Banking and Trust (NYSE: BBT) managed to publish unchanged 30 year fixed mortgage interest rates on February 25, 2014, thereby avoiding itself from presenting its loyal and potential customers with an unpleasant surprise.
As of now, in the new mortgage home loan charts released for the public this Tuesday, the bank as published its standard, long term, 30 year fixed rate mortgage home loan deals at an interest price of 3.875% and an annual percentage rate of 3.998%. However, the borrowers who are seeking ideal home financing deals in the short term lending section, the 15 year fixed rate mortgage home loans would be a perfect choice at an interest rate of 4.375% and an annual return rate of 4.931% today.
For the mortgage shoppers, who aren’t too drawn towards the standard 30 year packages and find the 15 year deals to be a bit expensive, the bank publishes its unique, mid-term, 20 year fixed rate mortgage home loans in the portfolio against an interest charge of 3.375% and an APR yield of 3.9865 today. However, the shortest, 10 year fixed rate home loan packages are now coming out at an interest cost of 3.875% and an annual percentage yield of 4.522% this Tuesday.
Heading towards the refinancing division, the interest borrowers will spot the popular 30 year fixed rate mortgage home loans coming out at an interest cost of 3.875% and carrying an annual percentage rate of 3.998% today. On the other hand, the relatively shorter, 15 year refinancing fixed rate mortgage loan schemes can be had at an interest cost of 4.375% and an annual percentage rate of 4.931%.
In the exclusive refinancing section, the bank is currently offering its unique, 20 year fixed rate mortgage loans at an interest cost of 3.375% and an annual return rate of 3.986% today. Alternatively, the shortest, 10 year fixed rate mortgage home loan deals can be secured at a lending rate of 3.875% and an APR yield of 4.522% today.
The mortgage interest rates quoted by banks are normally sensitive to the price changes in the mortgage backed bonds and securities, which are driven by the regular movements in the stock markets. As the stock markets waned by the end of the trading day, putting the DJIA index down by -113.35, BB&T bank moved in the same direction for quoting its mortgage rates. However, the stock price of BBT shares improved by +0.40 and stopped at a new price point 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.
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