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.
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