In the present day world, where regular economic changes and fluctuating markets have created a mayhem, Banking Branch and Trust (NYSE: BBT) has managed to maintain its ground and has kept itself from adding to the woes of the customers. On November 19, BB&T published the same standard 30 year fixed mortgage interest rates, thereby making their mortgage products more appealing to the customers than the ones with higher interest rates.
The benchmark 30 year fixed rate mortgage loans are now available at a rate of 3.750% and still carry an APR yield of 3.861%. The relatively shorter, 15 year fixed rate mortgages prove to be an excellent option for the borrowers willing to take the smaller route to financing. As of now, the 15 year FRMs are quoted at a rate of 4.250%, which are accompanied by an annual percentage rate of 4.782%.
In a distinctive category of fixed rate mortgages, BB&T provides some unique financing options to the mortgagors. The best 20 year fixed rate mortgages are published in the bank’s loan portfolio at an interest rate of 3.250% and come along with an APR yield of 3.858%. The bank also provides an even shorter, 10 year fixed rate mortgage loan option for those who are willing to bear an interest rate of 3.750% and an APR yield of 4.383%.
Heading towards the refinancing division of BB&T, the portfolio shows the best 30 year refinancing fixed rate mortgage loans being listed at a rate of 3.625% and yield an annual percentage rate of 3.935% today. However, the short term counterpart of 30 year refinance FRMs, the 15 year refinancing fixed rate mortgages can be acquired at an interest rate of 4.250% today from the bank, along with an APR yield of 4.760%.
The standard 20 year refinancing fixed rate mortgage loans are charged with an interest rate of 3.250% and an annual percentage rate of 3.858%. On the other hand, the refinancing option with the smallest time period, the 10 year refinancing FRM loans is listed at a rate of 3.625% and carries an APR yield of 4.462%.
The daily mortgage rates are often influenced by the ups and downs in the rates of mortgage backed securities, which follow the stock market movements regularly and change accordingly. Today, the stock market declined and left the DJIA index at 15337.70 by the end of the day. As expected, today’s rates also did move along the same path. However, the BBT stock prices did shoot up by +0.40 and reached a new mark of 35.72 by the end of the 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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