According to the latest mortgage interest rate information released by Branch Banking and Trust Corp (NYSE: BBT), the benchmark 30 year fixed mortgage interest rates are hanging at a high spot on January 23, 2014. Though the bank managed to keep its lending rates steady for the better half of this week, the unexpected market movements rippled the unruffled interest rates today.
The eligible long term home loan borrowers will now have to pay an interest cost equivalent to 3.875% and agree to an annual percentage rate of 3.996% for acquiring the standard 30 year fixed rate mortgage home loans today. However, for the admirers of short term home loans, the bank is now offering its 15 year fixed rate mortgage plans at an interest rate of 4.375% and an APR yield of 4.940% today.
In the exclusive lending department, the US based mortgage lender offers unique home loan deals for the borrowers with varied needs and interests. As of now, the bank publishes the midterm, 20 year fixed rate mortgage home loan packages in its loan portfolio against a lending charge of 3.375% and an APR yield of 4.020%. However, the shortest, 10 year fixed rate home loan schemes are coming out at a lending rate of 3.875% today and are backed by an annual return of 4.520%.
The mortgage home loan rates published by banks are often affected by the change in price of mortgage backed securities, traded by the bank in financial markets, which are known to follow the stock market movements closely. As the stock market waned by the end of the trading day and left the DJIA (Dow Jones Industrial Average) index at 15337.70, after moving down by -113.35, BB&T followed the market’s direction for quoting its mortgage interest rates today. However, irrespective of the mortgage interest rates, the stock price of BBT shares increased by +1.13% and touched a new price mark of 35.72 by the end of the trading day.
Lately, in the light of the lawsuit filed by 16 former and current NFL players on BB&T back in November last year, the plaintiffs have demanded some more time from the US District Court Judge for responding to the bank’s request of dismissing the case. The lawsuit accuses the bank of making disputed financial transactions through its earlier acquired Fort Lauderdale bank, to the BankAtlantic, where the NFL players held their money safe.
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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