Following the same path as yesterday, Branch Banking and Trust (NYSE: BBT) did not make any changes to its benchmark 30 year fixed mortgage interest rates on January 3, 2014. The mortgage shoppers looking for new home purchase or refinancing home loans will find the ideal options published at the same lending rates the bank’s loan books this Friday.
As of now, the standard, long term, 30 year fixed rate mortgage home loans are being advertised at the same interest rate of 4.125% and are accompanied by an annual percentage rate of 4.258%. However, the short term, 15 year counterpart of the 30 year fixed rate mortgage options are now trading at a lending cost of 4.500% and carry an APR yield of 5.055% today.
In the exclusive lending department, the prospective customers can find the midterm, 20 year fixed rate mortgage home loan deals coming out at a rate of 3.500% and carrying an annual return of 4.108%. However, the shortest, 10 year fixed rate mortgage home loan schemes can be acquired by paying an interest price equivalent to 4.125% and enjoying an APR yield of 4.785% today.
Heading towards the refinancing loaning section, the customers can spot the long term, 30 year fixed rate mortgage home loans trading at a rate of 4.125% and carrying an APR yield of 4.258% today. Alternatively, the short term, 15 year refinancing fixed rate home loan deals can be had by paying an interest cost of 4.500% and carry an APR yield of 5.055%.
As far as the exclusive lending options are considered, the customers can go for the 20 year, midterm, refinancing fixed rate mortgage packages, which are now traded at a rate of 3.500% and come along with an APR yield of 4.108%. However, the shortest, 10 year refinancing fixed rate mortgage home loan plans can be had at an interest rate of 4.125% and an APR yield of 4.785%.
The mortgage interest rates published by banks are generally affected by the fluctuations in the rates of mortgage backed financial securities, which trail the movement of stock market on a normal trading day. As the stock market lost its ground by the end of the trading day and left the DJIA index stranded at 15337.70, BB&T trailed the stock market movement and published its rates accordingly. However, the stock prices gained some ground and raised up to +1.13% to 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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