After pleasing the potential borrowers by publishing somewhat improved interest rates yesterday, Branch Banking and Trust Corp (NYSE: BBT) moved its benchmark 30 year fixed mortgage interest rates towards the higher end of the rate chart on March 18, 2014. This Tuesday, the potential home buyers will find the ideal new home purchase loans being traded at increased lending rates, which, in turn, will certainly have a negative impact on the demand of the loan products offered by the bank.
As of now, the standard, long term, 30 year fixed rate mortgage home loan deals are coming out at an interest rate of 3.750% and are carrying an annual percentage rate of 3.861% today. For the borrowers, who are interested in taking the shorter route towards financing their home purchase, the bank is offering its best 15 year fixed rate mortgage home loans at an interest cost of 4.375% and an annual return rate of 4.887%.
In the exclusive lending division, the interested customers can spot the midterm, 20 year fixed rate mortgage home loan packages being published next to an interest charge of 3.250% and an annual percentage yield of 3.915% today. However, the shortest, 10 year fixed rate mortgage home loan plans can be secured at an interest price of 3.750%, along with an annual return rate of 4.384%.
Heading towards the refinancing arena, the interested mortgage borrowers can find the popular 30 year fixed rate mortgage home loan deals being traded at an interest rate of 3.750% and backed by an annual return rate of 3.861% today. However, on the other hand, the relatively shorter, 15 year refinancing fixed rate mortgage home loan options can be locked in at a lending rate of 4.375% and an APR yield of 4.887% on Tuesday.
The mortgage shoppers, who aren’t really satisfied with the standard refinancing deals, can opt for the unique, midterm, 20 year fixed rate mortgage home loan schemes, which are now priced at an interest cost of 3.250% and are offering an APR yield of 3.915% today. Alternatively, the shortest, 10 year refinancing fixed rate mortgage loans can be acquired by bearing an interest burden of 3.750% and agreeing to an APR yield of 4.384% today.
The mortgage rates published by banks are often affected by the changes in the prices of mortgage backed financial bonds and securities, which are known to move along the stock market movements on a normal trading day. As the stock market lost its ground towards the end of the day and left the DJIA index at 15337.70, bank moved along in the same direction and quoted its interest rates. However, regardless of the lending rates, the stock price of BBT shares moved up by +0.40 and closed at 35.72 today.
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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