Fixed Mortgage Interest Rates Rundown at BB&T on January 30, 2014

After remaining flat for the most part of the week, the benchmark 30 year fixed mortgage interest rates at Branch Banking and Trust (NYSE: BBT) still show no pleasant or unpleasant change in the new mortgage rate charts released by the bank on January 24, 2014. Today, the interested borrowers will find the ideal fixed rate mortgage home loans coming out at the same interest rate as yesterday.

In the standard, long term home loan division, the bank is currently offering the best 30 year fixed rate mortgage home loan packages at an interest rate of 3.750% and an annual percentage rate of 3.893% today. On the other hand, the short term, 15 year fixed rate mortgage home loan packages are coming out at an interest rate of 4.375% and an APR yield of 4.898%.

For the borrowers, who are not happy with the long term home loan options and are seeking something else, the bank offers its best midterm, 20 year fixed rate, mortgage home loan plans at an interest rate of 3.375% and are carrying an annual return rate of 3.985%. However, the shortest, 10 year fixed rate mortgage home loan deals can be acquired at a starting rate of 3.750% and an annual percentage yield of 4.416% today.

When it comes to the refinancing home loan options, the bank publishes its popular 30 year fixed rate mortgage home loan offerings at a lending rate of 3.750% in its loan books, along with an APR yield of 3.893%. Alternatively, the shorter, 15 year refinancing fixed rate mortgage home loans are now advertised at a rate of 4.375% and an APR yield of 4.898% today.

On the other hand, for those, who find 30 years to be a quite long time period for refinancing packages and are not comfortable with the 15 year offerings, the bank provides midterm, 20 year refinancing fixed rate mortgage loans at a rate of 3.375% and an APR yield of 3.985% today. The shortest, 10 year refinancing fixed rate home loan plans are coming out at a lending rate of 3.750% and are backed by an APR yield of 3.985% today.

The mortgage interest rates published by banks are normally affected by the change in prices of mortgage backed securities, which often follow the stock market movements. As the Wall Street lost its ground towards the end of the trading day and left the DJIA index at 15337.70, BB&T moved in the same direction for quoting its interest rates. However, irrespective of lending rates, the stock price of BBT shares increased by +1.13% and closed at a higher price 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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About the author

Rob is a analyst and reporter covering stocks and business news.