BB&T Published Higher Mortgage Interest Rates on February 21, 2014

At times, when the realty sector and the mortgage market are dealing with constant changes, Banking Branch and Trust (NYSE: BBT) managed to hold its benchmark 30 year fixed mortgage interest rates stable for the most part of the week. However, this Friday, the economic factors took the charge and led the US based mortgage provider to publish higher interest rates for its standard mortgage packages.

As per the new home loan data made available by the bank on February 21, 2014, the standard 30 year fixed rate long term mortgage home loan plans are coming out at an interest rate of 3.875% and are carrying an annual percentage rate of 3.988%. When it comes to the short term offerings, the interest borrowers can find the ideal 15 year fixed rate mortgage home loan deals being traded at an interest rate of 4.375% and backed by an APR yield of 4.920%.

For the mortgage shoppers, who are not willing to lock in the expensive 30 year deals and find the 15 year mortgages to be quite short, the bank is offering its unique, midterm, 20 year fixed rate home loan packages at an interest rate of 3.375% and an annual return rate of 3.967% today. However, the shortest, 10 year fixed rate mortgage home loan deals can be secured by bearing an interest cost of 3.875% and an impressive APR yield of 4.511% today.

Shifting sights to the refinancing mortgage arena, the interested customers can find the best 30 year fixed rate mortgage home loans coming out at an interest rate of 3.750% and carrying an annual percentage rate of 3.872% today. On the other hand, the relatively shorter, 15 year fixed rate mortgage home loan deals can be secured at a lending price of 4.375% and an annual return rate of 4.888% this Friday.

In the exclusive refinancing section, the bank has now published its midterm, 20 year fixed rate mortgage home loan deals at an interest price of 3.250% and an annual percentage yield of 3.915% today. Alternatively, the shortest, 10 year refinancing fixed rate mortgage home loan plans can be locked in at a lending rate of 3.750% and an APR yield of 4.395% towards the end of this trading week.

Out of several things that fuel the upward and the downward movement of mortgage rates quoted by the bank, price fluctuations experienced by the mortgage backed financial securities lead the pack, and are generally affected by the regular stock market movements. As the stock market waned towards the end of the trading day and left the DJIA index at 15337.70, the bank moved along the same direction for quoting its mortgage rates. However, the stock price of BBT shares moved up by +1.13% and touched a new price mark of 35.72 today. 

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.