As another unstable trading week is nearing its end, the US based mortgage lender, Branch Banking and Trust Corp (NYSE: BBT), decided to please the potential home buyers by posting better benchmark 30 year fixed mortgage interest rates on May 15, 2014. As per the most recent mortgage charts released by the bank, the standard home purchase and refinancing home loan deals are coming out at improved interest rates today. Being largely affected by the movements in stock markets and other economic factors, this recent improvement in the mortgage interest rates is likely to draw more potential home buyers towards the American lender in search of ideal home finances this Thursday.
At the North Carolina based lender, the standard, long term, 30 year fixed rate mortgage home loans are now available at the an interest rate of 4.125% and an annual percentage rate of 4.667% this Thursday. For those who are keen on walking down the shorter road for financing their new home purchase in a more economical manner will have to deal with an interest rate of 3.250% for securing the short term, 15 year fixed rate mortgage loans, which are now offering an annual return rate of 3.841% today.
In the exclusive home loan section zone, the borrowers, who are not willing to lock their finances for a period of 30 years, or are finding the 15 year deals to be a bit expensive, bank offers its mid-term, 20 year, fixed rate mortgage home loans at an interest rate of 3.875% and an annual return rate of 4.465% today. The shortest, 10 year fixed rate mortgage home loan packages can also be seen listed in the bank’s loan portfolio against an interest rate of 3.000% and being backed by an annual percentage yield of 3.660%.
The mortgage interest rates published by banks have the tendency to move upwards or downwards depending upon the changes in the prices of mortgage backed financial bonds and securities, traded by banks in the financial markets, which are known to follow the stock market movements on any normal trading day. As the Wall Street lost some ground and left the DJIA index at 15337.70, BB&T followed the movement blindly and walked on the same path to quote its mortgage interest rates. However, the stock price of BBT shares experienced a hike of +1.13% price points and closed at a 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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