Moving in the opposite direction, after registering a steep rise at the end of the previous week, Branch Banking and Trust (NYSE: BBT) made some pleasant improvements to its benchmark 30 year fixed mortgage interest rates on February 10, 2014. This Monday, the potential home buyers will find the fixed rate mortgage deals coming out at reduced interest and better return rates.
Starting with the standard, long term home financing deals, the mortgage shoppers will have to pay an interest cost of 3.625% and agree to an annual percentage rate equivalent to 3.925% today for acquiring the 30 year fixed rate mortgage home loans. However, the short term, 15 year counterparts of the 30 year fixed rate home loan packages can be locked in at an interest rate of 4.250% and an annual return of 4.783% today.
For those, who find 30 years period to be a bit long for home loans and aren’t really satisfied with the return rate of short term deals, the bank publishes is midterm, 20 year fixed rate mortgage home loans, in its unique lending section, at an interest rate of 3.250% and an APR yield of 3.916% today. Alternatively, the bank also publishes the shortest, 10 year fixed rate home loan options at an interest rate of 3.625% and an APR yield of 4.452% today.
When it comes to the refinancing options, the interested customers can find the standard 30 year fixed rate mortgage packages being traded at an interest rate of 3.625% and backed by an annual percentage rate of 3.925% today. However, the short term, 15 year refinancing fixed rate mortgage home loan deals can be acquired at an interest rate of 4.250% and an annual return of 4.783% today.
In the exclusive home loan department, the US based mortgage provider is offering the midterm 20 year refinancing fixed rate mortgage plans at a lending cost of 3.250% and an annual return of 3.916%. The shortest, 10 year refinancing fixed rate mortgage home loan schemes can be locked in at an interest rate of 3.625% and an APR yield of 4.452% today.
The mortgage home loan rates quoted by banks are often affected by the movement in the price of mortgage backed securities, which generally follow the direction of stock markets on any normal trading day. As the securities market plummeted by the end of the trading day and left the DJIA index at 15337.70, the bank moved in the same direction for publishing its interest rates. Irrespective of the mortgage rates, the stock prices of BBT shares registered an improvement of +0.40 and closed at a new price mark of 35.72.
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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