To start with, in the standard, long term home loan section, the North Carolina based lender is now offering its 30 year fixed rate mortgage options at an interest rate of 4.125% and an annual percentage rate of 4.667% this Monday. For the customers looking forward to take the shorter route to finance their realty investment, BB&T now offers 15 year fixed rate mortgage loans at a lending rate of 3.250% and an APR yield of 3.859% today.
Shifting sights to the exclusive lending section, the potential home buyers, who aren’t pleased by the long term home financing deals, and also find the short term plans to be a bit expensive, can opt for the mid-term, 20 year fixed rate mortgage loans, which are now listed against an interest rate of 3.875% and are carrying an APR yield of 4.421%. The interested customers can also find the shortest, 10 year fixed rate home loan schemes, being published in the bank’s books against a lending cost of 2.875% and an annual return rate of 3.561% today.
The mortgage interest rates quoted by banks are generally affected by the upward and downward movement in the prices of mortgage backed financial bonds and securities, which are known to tail the stock market movements on any average trading day. Today, as the stock markets lost ground towards the end of the trading session and left the DJIA index at 15337.70, BB&T followed the movement closely and published its mortgage rates accordingly. Regardless of the interest rates, the stock prices of BBT shares increased by +0.40 and reached a new level of 35.72.
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