Branch Banking and Trust (NYSE: BBT) is holding its benchmark 30 year fixed mortgage rates firm on December 24, 2013. This Tuesday, the lender did not make any change in the interest rates of its standard home purchase and refinancing mortgage loans, thereby avoiding giving any unpleasant surprise to the potential home buyers just a day before Christmas.
In its long term loaning section, BB&T advertises its standard 30 year fixed rate mortgage home loan deals at the same interest rate of 4.125% and offers an annual percentage rate of 4.238% today. The borrowers, who are not comfortable with the long term loaning options, can find the popular short term, 15 year fixed rate mortgage options quoted at a rate of 4.500% and an impressive APR yield of 5.034%.
In the exclusive lending division, the North Carolina based mortgage lender provides the mid-term, 20 year fixed rate mortgage loans at an interest rate of 3.500% and an APR yield of 4.091%. However, the shortest, 10 year fixed rate mortgage deals are traded at an interest rate of 4.125% and offer an annual return of 4.764% today.
As far as the refinancing home deals are concerned, the customers can find the 30 year fixed rate mortgage options listed at an interest rate of 4.125% and an APR yield of 4.238%. However, the short term, 15 year refinancing fixed rate mortgage packages can be had at an interest rate of 4.500% and a higher annual percentage rate of 5.034%.
When it comes to the unique home refinancing lending options, the 20 year, mid-term, fixed rate mortgage home loans are up for grabs at a lending rate of 3.500% and an annual percentage rate of 4.091% today. However, the shortest, 10 year refinancing fixed rate mortgage home loans are available at a rate of 4.125% and come along with an annual return of 4.764% to start with.
The mortgage rates at banks are normally affected by the fluctuations in the price of the mortgage backed financial instruments, which generally trail the movements in the stock market on a daily basis. As the stock market plummeted at the end of the trading day and left the DJIA index stranded at 15337.70, BB&T followed the movement and quoted its mortgage rates accordingly. However, regardless of the mortgage rates, the stock prices of the BBT shares gained some ground and rose up to a new mark 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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