Apart from a noteworthy hike in the benchmark 30 year fixed mortgage rates, the customers planning on visiting Branch Banking and Trust (NYSE: BBT) on December 13, 2013 will find other home financing options also published at higher interest rates. In an environment, where ever major mortgage lender is aiming to reduce the interest rates or at least, keeping them stable, to attract more customers, BB&T certainly made its financing options a little less popular among the potential customers.
As per the recent mortgage sheets of the lender, the standard 30 year fixed rate mortgage loans are being advertised at a rate of 4.000% and an annual percentage yield of 4.122%. The fixed rate home financing options with a relatively short tenure of 15 years can be acquired by bearing a lending charge of 4.375% and an APR yield of 4.940%.
For the borrowers interested in settling with the mortgage options having a middling tenure, the bank provides 20 year fixed rate mortgage home loans at an interest rate of 3.375%, backed by an APR yield of 3.983% today. Likewise, the fixed rate mortgage deals with the shortest time period of 10 years can be had at an altered rate of 4.000% and an APR yield of 4.648%.
As far as the refinancing fixed rate mortgage schemes are considered, the customers can obtain the required amount of financial help under the 30 year category at a rate of 4.000% and an APR yield of 4.122%. The short term, 15 year fixed rate refinancing home loans can now be had at an interest cost of 4.375% and an APR yield of 4.940%.
In the exclusive lending division, the bank publishes its average 20 year refinancing FRM options against an interest charge of 3.375% today, which is accompanied by an APR yield of 3.983%. Alternatively, the borrowers who aren’t interested in long term deals can benefit from the shortest, 10 year refinancing fixed rate mortgage loans, which are now quoted at a rate of 4.000% and carry an APR yield of 4.648%.
The mortgage rates published by the bank fluctuate due to the changes that take place in the price of mortgage backed bonds and securities, which normally track the movements of the stock market. However, when the stock market fell down by the end of the trading day, and left the DJIA index sitting at 15337.70, BB&T decided to part its ways and take a different route than the DJIA index. Regardless of the mortgage rates, the stock prices of BBT shares increased by +0.40 and reached 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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