At the beginning of a new month, Branch Banking and Trust Corp (NYSE: BBT) chose to keep its mortgage lending rates unchanged, thereby giving a pleasant treat to the potential home buyers. As of now, according to the new mortgage rate charts published by the bank online, the benchmark 30 year fixed mortgage interest rates are hanging around the same point as yesterday.
In the standard home loan department, the borrowers can find the long term, 30 year fixed mortgage home loan deals coming out at an interest rate of 3.625% and carrying an annual percentage rate equivalent to 3.904% today. For the borrowers, who find 30 year options to be a bit expensive, the US based mortgage lender offers its best, 15 year fixed rate mortgage home loans at an interest cost of 4.250% and an APR yield of 4.773% today.
In the exclusive lending zone, the potential home buyers can easily spot the unique, 20 year fixed rate mortgage home loans being traded at an interest price of 3.625% and carrying an impressive APR yield of 3.916% today. The shortest, 10 year fixed mortgage home loans have also found their place in the portfolio against a lending charge of 3.625% and an APR yield of 4.430%.
When it comes to the refinancing home loan options, the popular 30 year fixed rate mortgage offerings are being advertised at a mortgage interest rate of 3.625% and are accompanied by an APR yield of 3.904%. In the short term refinancing division, the interested borrowers can acquire the 15 year fixed rate home loans by paying an interest cost of 4.250% and an APR yield of 4.773%.
On the other hand, for the seekers of exclusive refinancing deals, the bank proudly presents its midterm, 20 year fixed rate mortgage home loan plans at an interest rate of 3.250% and an annual return rate of 3.916% today. However, the shortest, 10 year refinancing fixed rate mortgage packages can be had at a lending price of 3.625% and an APR yield of 4.430% today.
The mortgage rates quoted by banks are usually affected by the change in prices of mortgage backed financial securities, which tend to move along the stock market. As the stock market dropped by the end of the trading day, leaving the DJIA index at 15337.70, BB&T travelled along the same path for quoting its mortgage interest rates. Regardless of the lending rates, the stock price of BBT shares increased by +0.40 and touched 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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