Summary of Mortgage Interest Rates at BB&T on May 9, 2014

Summary of Mortgage Interest Rates at BB&T on May 9, 2014

After enjoying its stay at a firm ground for the past few weeks, the benchmark 30 year fixed mortgage interest rates experienced a little movement at the US based mortgage lender, Branch Banking and Trust Corp (NYSE: BBT) on May 9, 2014. This Friday, for the eligible borrowers, the bank is offering its standard home purchase as well as refinancing home loan packages at somewhat improved interest rates, as against the rates quoted by the lender yesterday, thereby creating favorable market situation for the lender and its ideal home loan products today.

To start with, in the standard, long term home loan section, the North Carolina based mortgage provider offers its 30 year fixed rate mortgage option at an interest rate of 4.125% and an annual return rate equivalent to 4.667% today. For the customers, who are searching for somewhat economical and short term home financing deals, the bank is currently offering its 15 year fixed rate mortgage home loan plans at a lending rate of 3.250% and an annual percentage rate of 3.859% this Friday.

In the exclusive home loan section, the borrowers, who are not satisfied with the interest and return rates offered by standard 30 year deals and aren’t really drawn towards the short term packages, can spot the mid-term, 20 year fixed rate mortgage home loan options being listed at an interest price of 3.875% and an annual percentage yield of 4.435% in the loan portfolio of BB&T bank. The shortest, 10 year fixed rate home loan plans can also be found published in the bank’s books against an interest rate of 2.875% and an annual return rate of 3.561% today.

The mortgage interest rates quoted by banks taste a sudden hike or fall by the upward and downward movement in the prices of mortgage backed financial bonds and securities traded by banks in the financial market, which are known to follow the stock market movements on any normal trading day. Towards the end of the trading day, as the stock markets lost its ground and left the DJIA index stranded at 15337.70, the bank followed the movement blindly and decided to quote its mortgage rates accordingly. Irrespective of the mortgage interest rates quoted by the bank, the stock prices of BB&T shares experienced a hike of +0.40 and reached a new price mark of 35.72 towards the end of the trading day this Friday.

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.