This Wednesday did bring along a sweet change in the standard 30 year fixed mortgage interest rates at the Banking Branch and Trust Corp (NYSE: BBT). The customers dropping by BB&T’s local branches on December 4, 2013, will find the home purchase and refinance mortgage options being traded at reduced interest rates.
As per the recently published data, the benchmark 30 year fixed rate mortgage loans are now traded at somewhat reduced interest rate of 3.875% and still carry an annual percentage rate of 3.997%. On the other hand, the relatively short term, 15 year fixed rate mortgage loans are listed at a rate of 4.375% and an APR yield of 4.908%.
In the unique fixed rate mortgage loan division, the lender pleases its customers by providing 20 year variants of the FRM loans at a rate of 3.250%, which come along with an APR yield of 3.913%. Also, for those looking for the shortest route to finance their dream home, the bank provides 10 year fixed rate mortgage deals at a lending cost of 3.875% and an APR yield of 4.521 %.
In the refinancing wing, BB&T provides the benchmark 30 year fixed rate mortgage loans at a rate of 3.875% and yield an APR of 3.997%. When it comes to short term financing options, the lenders can find 15 year refinancing fixed rate mortgage schemes listed at an interest rate of 4.375% and an APR yield of 4.908%.
For the customers with unique requirements as regards to the period of the loan, the bank provides 20 year refinancing fixed rate home loans at a rate of 3.250%, along with an impressive APR yield of 3.913%. As far as the shortest tenure goes, the borrowers can find 10 year refinancing fixed rate mortgage deals a perfect choice at a rate of 3.875% and an annual percentage yield of 4.521%.
The DDA (Downtown Development Authority of Madison) adopted a recent bond resolution worth $1110000 at an interest rate of 1.5% and a period of over 5 years. This will enable the Madison city to refinance its remaining amount of debt on the project of Town Park. This resolution has been ratified and authorized by the Mayor of the city and the bonds were consequently purchased by BB&T, which is to serve as the placement agent of the bonds.
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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