Mortgage Interest Rates at BB&T are Holding Steady on February 14, 2014

In the present day financial market, where constant economic changes and market fluctuations have created a mayhem for the mortgage lenders, Branch Banking and Trust (NYSE: BBT) did manage to keep its standard home loan rates unchanged on February 14, 2014. Today, keeping it from adding to the woes of the potential home loan borrowers, the bank chose to quote same benchmark 30 year fixed mortgage interest rates as yesterday.

This Friday, the standard, long term, 30 year fixed rate mortgage home loan packages are coming out at an interest rate of 3.750% and an annual percentage rate of 3.893%. On the other hand, the seekers of short term lending options can find the 15 year fixed rate mortgage home loan deals being published against a lending charge of 4.375% in its loan books, and carrying an APR yield of 4.899% today.

In the exclusive lending division, for the mortgage shoppers who find 30 year deals to be quite expensive and aren’t happy with the return rates of 15 deals, the bank offers the unique, midterm, 20 year fixed rate mortgage loans at an interest rate of 3.375% and an annual return rate of 3.949% today. However, the shortest, 10 year fixed rate mortgage packages can be secured by paying an interest cost of 3.750% and agreeing to an APR yield of 4.417% today.

The overall picture remained somewhat similar in the refinancing arena, where the popular 30 year fixed rate mortgage packages are still being advertised at an interest price of 3.750% and are accompanied by an APR yield of 4.375%. However, the relatively shorter, 15 year refinancing adjustable rate mortgage deals can be locked in at a lending rate of 4.375% and an annual percentage rate of 4.899% today.

For the borrowers with unique needs and wants, the bank is now offering its midterm, 20 year refinancing fixed rate mortgage home loans at an interest rate of 3.375% and an annual percentage rate of 3.949% today. The shortest, 10 year refinancing fixed rate home loans can be locked in at an interest price of 3.750% and an APR yield of 4.417% this Friday.

The mortgage rates quoted by banks are normally affected by the changes in the prices of mortgage backed bonds and securities, which generally track the movements of stock markets on an average trading day. As the stock markets dropped towards the end of the trading day and the DJIA index experienced a fall of -0.73%, the bank took the lead and moved along the same direction for publishing its mortgage interest rates. However, the stock price of BBT shares gained some ground and touched a new price mark of 35.72 after a hike of +0.40. 

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.