Today, maintaining its usual pace, Branch Banking and Trust Corp (NYSE: BBT) quoted same benchmark 30 year fixed mortgage interest rates in its loan portfolio. As of now, the mortgage shoppers, who are planning on paying the home loan section of BB&T bank a visit, will find the ideal home purchase and refinancing home loan deals being traded at unchanged interest rates on May 6, 2014.
A closer look at the most up to date mortgage information made available by BB&T in the market will reveal that the popular, long term, 30 year fixed rate mortgage plans are still traded a at an interest rate of 4.250% and carrying an annual percentage rate of 4.750% today. However, the relatively shorter, 15 year fixed rate mortgage home loan plans are coming out at an interest price of 3.250% and an annual return rate of 3.877% this Tuesday.
In the exclusive lending division, the borrowers, who are not drawn by the standard 30 year home loan deals and are unhappy with the interest and return rates offered by short term plans, can find the midterm, 20 year fixed rate mortgage home loans being traded at an interest price of 4.000% and an annual percentage yield of 4.532% today. On the other hand, the shortest, 10 year fixed rate mortgage home loans can be seen coming out at an interest price of 2.875% and being backed by an annual return rate of 3.615% this Tuesday.
The mortgage rates published by banks are generally affected by changes in the prices of mortgage backed securities that the banks trade at financial markets, which follow the movements of stock market on a regular basis. By the end of the trading day, as the stock market plunged by -113.35 and left the DJIA index at 15337.70, BB&T moved in the same direction for quoting its interest rates. However, irrespective of the mortgage interest rates, the stock prices BBT shares rose up by +1.13% and touched a new price mark of 35.72 loser to the end of the day.
Lately, BB&T Bank received a stock rating update from neutral to an outperform rating in the latest research report released by Credit Suisse on Monday morning. As of now, Credit Suisse has about $46.50 price objective on the bank’s stock. As a result, BBT shares opened at 37.50 on Monday morning and managed to do quite well for the rest of the trading day at Wall Street.
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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