Mortgage Interest Rates Remain Steady at BB&T on April 23, 2014

Mortgage Interest Rates Remain Steady at BB&T on April 23, 2014

This week, for the third day in a row, Branch Banking and Trust Corp (NYSE: BBT) published unchanged benchmark 30 year fixed mortgage interest rates on April 23, 2014. As per the newly released mortgage information by the bank, the standard home purchase as well as refinancing mortgage deals are coming out at same interest rates as yesterday, which is likely to help the bank in maintaining a steady demand for its mortgage products in the market.

As of now, in the standard, long term lending section, the bank is offering its best 30 year fixed rate mortgage home loan deals at the same interest rate of 4.375% and an annual percentage rate equivalent to 4.909%. On the other hand, for the borrowers, who are planning on taking a shorter route to finance their home purchase, the bank provides its best 15 year fixed rate mortgage home loan plans at a lending rate of 3.375% and an annual percentage yield of 4.004% today.

On the contrary, for the mortgage borrowers, who are not willing to extend their home loan debt to a period of 30 years and are not happy with the interest and annual return rates that accompany 15 year deals as well, can find ideal home finances in the exclusive lending section of BB&T’s loan portfolio.

With regards to the exclusive home loan deals, the interested borrowers can now spot the midterm, 20 year fixed rate mortgage home loan packages being listed next to an interest price of 4.125% and being backed by an annual return rate of 4.673% this Wednesday. Alternatively, the shortest, 10 year fixed rate mortgage home loan schemes can now be locked in by bearing an interest charge of 3.000% and agreeing to an annual percentage return of 3.768% today.

The mortgage interest rates quoted by banks are normally affected by the changes experienced by mortgage backed financial bonds and securities, traded by the bank in financial markets, which are known to follow the footsteps of stock market. As the Wall Street declined towards the end of another trading day, and DJIA index reduced by -113.35 to touch a new mark of 15337.70, BB&T took the lead and moved in the same direction to quote its mortgage interest rates. However, irrespective of the lending rates, the stock price of BBT shares moved up by +0.40 and closed at a new price point of 35.72 today.

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.