After struggling hard in the market and publishing higher lending rates towards the end of the previous week, Branch Banking and Trust (NYSE: BBT) chose to keep its mortgage interest rates steady on February 24, 2014. The mortgage shoppers, who planning on visiting the local branch of BB&T bank this Monday, will find no relative change in the interest rates at which the standard home purchase and refinancing deals are being traded.
In the standard, long term, home financing section, the potential customers can spot the best 30 year fixed rate mortgage home loans coming out at an interest rate of 3.875% and an annual percentage rate of 3.998% today. However, for the seekers of home loan deals with relatively shorter tenure, the bank is now offering its 15 year fixed rate mortgage home loan packages at an interest cost of 4.375% and an APR yield of 4.931% this Monday.
The mortgage borrowers, who are unhappy with the standard 30 year and the so called short term 15 year deals offered by the bank, can look out for ideal home financing options in the exclusive lending category of the bank. As of now, BB&T is offering its midterm, 20 year fixed rate mortgage home loans at an interest rate of 3.375% and an APR yield of 3.986%. However, the shortest, 10 year fixed rate mortgage plans are coming out at an interest price of 3.875% and an APR yield of 4.522% today.
Shifting sights to the refinancing mortgage arena, the prospective customers can find the popular 30 year fixed rate mortgage home loans being listed against an interest charge of 3.875% and being backed by an annual return rate of 3.998% today. On the other hand, the short term, 15 year refinancing fixed rate mortgage home loans can be acquired at an interest rate of 4.375% and an APR yield of 4.931% today.
In the exclusive lending zone, the potential mortgage shoppers can find the midterm, 20 year refinancing fixed rate mortgage home loans being advertised at an interest cost of 3.375% and carrying an annual return rate of 3.986% today. However, the shortest, 10 year refinancing fixed rate home loan deals can be secured at a lending rate of 3.875% and an APR yield of 4.522% today.
The interest rates published by banks are normally affected by the change in the price of the mortgage backed bonds and securities, which move along with the stock market on any normal trading day. Towards the end of the trading day, as the stock market waned and left the DJIA index at 15337.70, BB&T moved in the same direction for quoting its mortgage rates. Regardless of the market movements, the stock price of BBT shares reached a new price mark of 35.72 after a hike of +1.13%.
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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