Better Mortgage Interest Rates at BB&T on May 16, 2014

Mortgage Interest Rates at BB&T on May 16, 2014

This Friday, defying the standard market movement, the North Carolina based mortgage provider, Branch Banking and Trust Corp (NYSE: BBT), did make some decent improvements to its benchmark 30 year fixed mortgage interest rates. As per the mortgage charts released by the bank on May 16, 2014, the standard home purchase and ideal refinancing deals are coming out at somewhat better interest rates as compared to the yesterday’s figures.To start with, in the standard, long term home loan division, the bank is offering its 30 year fixed rate mortgage home loans are at an interest rate 4.000% and are providing an annual percentage rate of 4.573%. In the relatively short term lending section, 15 year fixed rate mortgage home loans are up for grabs for the interested customers at a lending rate of 3.125% and an annual return rate of 3.715% this Friday.

In the exclusive home lending zone, the borrowers, who are unwilling to lock their finances for a period of 30 years and aren’t satisfied by the rates of 15 year offerings, can spot the mid-term, 20 year fixed rate mortgage loans listed at a lending rate 3.750% and being backed by an APR yield of 4.309% today. For the seekers of shortest home loan deals, the bank offers 10 year fixed rate mortgage home loan packages at an interest cost of 2.875% and an annual percentage yield of 3.615% today.

The mortgage interest rates published by banks are normally affected by the upward and downward movements in the prices of mortgage backed financial bonds and securities, traded by banks in the financial market, which are known to tail the stock market movements on any normal trading day. As the stock market plummeted towards the end of the trading day today and left the DJIA index behind at 15337.70, BB&T moved in the direction of Wall Street and published its mortgage rates accordingly. However, irrespective of the interest rates, the share prices of BBT stock experienced a hike of +1.13% and reached a new price mark of 35.72.

BB&T Bank, lately, donated a good amount of money to the Northwest Georgia branch of the Chattanooga Area Food Bank for supporting the its widespread network for continuing their good deeds to fight hunger in the local community. A sizeable portion of this donation will deal with the most alarming issue of hunger of will support its feeding programs that help the needy kids enjoy a decent and the most deserving meals every day.

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.