BB&T Mortgage Interest Rates Plunge on 4 November 2013 as the NFL Players Sue the Bank

BB&T Mortgage Interest Rates Plunge on 4 November 2013The benchmark 30 year fixed rate mortgage rates experienced mild fluctuations in the market today. The rates change on a regular basis. The 30 year FRMs stand listed at an interest rate of 3.625% in the books of Branch Banking and Trust (NYSE:BBT), along with an APR yield of 3.871%. Considering the 20 year fixed rate mortgages, the borrowers can obtain it at a rate of 3.250%, carrying an APR yield of 3.840%.

For those interested in a shorter term finance, the best 15 year fixed rate mortgages are available at a rate of 4.125% today and yield an APR of 4.645%. Lastly, the borrowers who would like to go with an even shorter term option, obtaining the 10 year fixed rate mortgages would be an ideal move. These loan schemes are listed at a rate of 3.625% and yield an annual percentage rate of 4.396%.

Heading towards the refinancing side of the BB&T bank, the available options provide a more easy choice to borrowers for dealing with their home finance issues. The standard 30 year refinance fixed rate loans are given at a rate of 3.625% and are known to provide an APR of 3.871%. Along with this, the refinancing portfolio also lists 20 year refinance FRM loan options at a rate of 3.250%, carrying an APR of 3.840%.

For the admirers of short term financing, the 15 years refinance fixed rate mortgages are up for grabs at an interest rate of 4.125% today and will accompany an APR of 4.645%. An even shorter, 10 year refinance mortgage options are also available under the fixed rate mortgage category at the BB&T bank at 3.625% and an annual percentage rate of 4.396%.

The mortgage rates are normally affected by the changes in the price of mortgage related bonds and securities, which happens in the light of stock market changes. Today, the markets closed with a downfall and left the DJIA index wandering at 15337.70. As expected, the BB&T rates also blindly followed the movements of the stock market and also caused the bank’s stock price to rise up by +0.40 and touch the 35.72 mark.

Meanwhile, as 16 former and current NFL players sue BB&T for over a loss of $53 million, which was pulled from the account of the players by Bank Atlantic (firm acquired by BB&T last year) for illegitimate purposes, the mortgage rates are expected to fall in the coming days.

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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About the author

Rob is a analyst and reporter covering stocks and business news.