Unlike several other mortgage lenders operating in the present day US financial markets, Branch Banking and Trust (NYSE: BBT) took its mortgage interest rates to a higher level on January 22, 2014. As of now, the prospective customers will find a sudden hike in the benchmark 30 year fixed mortgage interest rates, which is likely to affect the demand of BB&T’s loan products in the market.
According to a new home loan data published by the bank today, the standard, 30 year long term fixed rate mortgage loans are advertised at an interest rate of 3.875% and are carrying an annual percentage rate of 3.986%. On the other hand, the shorter, 15 year fixed rate mortgage home loan deals are coming out at an interest rate of 4.375% and an APR yield of 4.918% today.
In the exclusive lending division, the customers can find the midterm, 20 year fixed rate mortgage home loan options being traded at a lending charge of 3.375% and an annual return rate of 4.001%. However, the shortest, 10 year fixed rate mortgage home loan packages are tagged at an interest cost of 3.875% and an APR yield of 4.509% today.
When it comes to the refinancing mortgage lending division, the potential borrowers can find the popular 30 year fixed rate mortgage home loans trading at an interest rate of 3.875% and carrying an APR yield of 3.986% today. Alternatively, the shorter, 15 year refinancing fixed rate home loan schemes can be had at an interest price of 4.375% and an APR yield of 4.918%.
The borrowers who find 30 years to be a long period for home loans or are not happy with the 15 years can find a mid-way solution in the form of 20 year refinancing fixed rate mortgage loans, which are now available at a lending rate of 3.375% and are backed by an APR yield of 4.001%. On the other hand, the shortest, 10 year refinancing fixed rate mortgage deals can be had at an interest cost of 3.875% and an APR yield of 4.509%.
The rise and fall in the mortgage interest rates is an outcome of the regular price fluctuations tasted by the mortgage backed financial securities, which move along with the stock market. However, as the Wall Street waned by the end of the trading day and brought the DJIA index down to 15337.70, BB&T did not take the bait and published its mortgage rates independently. However, the stock prices of BBT shares rose by +0.40 and touched a new price level 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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