Mortgage Interest Rates Are Holding Their Ground at BB&T on May 8, 2014

Mortgage Interest Rates Are Holding Their Ground at BB&T on May 8, 2014

Branch Banking and Trust Corp (NYSE: BBT), one of the leading mortgage providers in the US, made no absolute change to its benchmark 30 year fixed mortgage interest rates on May 8, 2014. For the eligible home buyers, who are planning on securing standard home purchase loans or refinancing home loan deals, will find no pleasant or unpleasant movement in the lending rates this Thursday.

BB&T, in today’s standard, long term listings, quoted its best 30 year fixed rate mortgage home loans at an unchanged interest rate of 4.250% and an annual percentage rate of 4.750%. On the other hand, for the mortgage shoppers interested in taking a shorter route to finance their new home purchase, the bank is now offering its 15 year fixed rate mortgage home loan options at a lending rate of 3.250% and an annual return rate of 3.896% today.

In its unique lending category, for the borrowers, who are not satisfied with the standard 30 year deals and find the 15 year options a bit expensive, the bank is offering its midterm, 20 year, fixed rate mortgage loans at an interest rate of 3.875% and an APR yield of 4.465% today. On the other hand, the borrowers can also spot the shortest, 10 year fixed rate mortgage packages listed in its books at an interest rate of 2.875% and an impressive APR yield of 3.615% today.

The overall picture remained somewhat the same in the refinancing home loan section of bank’s loan portfolio. As of now, the popular, 30 year refinancing fixed rate mortgage home loan plans are coming out at the same interest rate of 3.750% and annual return rate of 3.883%. However, in the short term lending section, the 15 year refinancing fixed rate mortgage plans are up for grabs at an interest price of 4.375% and an annual return rate of 4.898% today.

In the exclusive home loan section, the mortgage shoppers, who find 30 year to be a quite long period for home loans and do not find the 15 year deals enough convincing because of higher interest rates, can spot the midterm, 20 year, refinancing fixed rate mortgage home loans listed in the bank’s books against an interest rate of 3.375% and an annual percentage yield of 3.967%. On the other hand, the shortest, 10 year refinancing fixed rate mortgage home loan plans are also quoted in the loan portfolio at an interest rate of 3.750% and an annual return rate of 4.406% this Thursday.

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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About the author

Rob is a analyst and reporter covering stocks and business news.