Following the trending market movements, Branch Banking and Trust (NYSE: BBT) made some minor changes to its mortgage home loan rates on February 28, 2014. The eligible mortgage shoppers, who plan on visiting the loan desk of BB&T bank, will find minor improvements in the 30 year fixed mortgage interest rates and the rates at which its exclusive midterm home loan deals are published today.
According to the recently published mortgage home loan information, the standard 30 year fixed rate mortgage deals are being traded at the same interest rate of 3.625% and are carrying an annual percentage yield of 3.914% today. On the other hand, for the borrowers, who are willing to take a shorter route to fulfill their home financing need, the bank is currently offering its best 15 year fixed rate mortgage home loan plans seem at an interest rate of 4.375% and an APR yield of 4.866%.
In the exclusive home loan department, for the borrowers who aren’t really drawn towards the standard 30 and 15 year home loan deals, the bank publishes its midterm 20 year fixed rate mortgage loans against an interest price of 3.250% and an APR yield of 3.897% today. For the interested customers, the bank also provides the option of walking on the shortest route by acquiring the 10 year fixed rate mortgage home loans at an interest rate of 3.625% and an APR yield of 4.441%.
When it comes to the refinancing home loan options, BB&T advertises its popular 30 year fixed rate mortgage packages against a lending charge of 3.625% and an annual percentage return of 3.914%. However, the relatively shorter, 15 year refinancing fixed rate mortgage home loan deals can be locked in at an interest cost of 4.375% and an APR yield of 4.866% today.
For the mortgage shoppers, who find the standard refinancing option inappropriate in terms of tenure, the US based mortgage provider publishes the midterm 20 year fixed rate mortgage schemes at an interest price of 3.250%, which come along with an APR yield of 3.897%. Alternatively, the shortest, 10 year refinancing fixed rate mortgage packages are up for grabs at a lending price of 3.625% and are being accompanied by an APR yield of 4.441% today.
The mortgage interest rates published by banks are normally affected by the change in the price of mortgage backed financial bonds and securities, 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 index at 15337.70, BB&T Bank moved along in the same direction for publishing its mortgage loan rates. However, the stock price of BBT shares registered an improvement of +1.13% and closed at a new 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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