SunTrust Bank: Today’s Mortgage Rates Update

SunTrust Bank Today's Mortgage Rates 30-year fixed mortgage rateThe current mortgage rates of SunTrust Bank are based on number of factors. One of these factors includes payment of 1% of the loan amount to cater for the loan origination charge, while the interest rate applies for a lock-in period of 60 days. Moreover, these rates apply for a loan taken to finance a primary residence for a single-family unit. SunTrust is one of the largest banks in the U.S and is well known for competitive rates where the interest rate for a 30-year fixed mortgage rate is 4.125%, and the APR currently stands at 4.2379%.

SunTrust’s interest rate for a 30-year fixed FHA currently stands at 3.800%, while its APR is 5.438%. Similarly, the interest rate for SunTrust’s 15-year fixed mortgage is 3.200%, with an APR of 3.390%. SunTrust’s competitive mortgage rates are spread to cover the 5-year ARM whose interest rates stand at 2.800%, compared to its APR of 2.956. These mortgage rates apply across the board regardless of where you live.

SunTrust’s current mortgage rates apply for people applying for larger amounts, although only certain areas are eligible, and applicants would need to consult with the bank first to determine whether they qualify or not. While considering the mortgage rates that are normally caught against the 10-year Treasury note; this 10-year Treasury note gave huge decrease from 2.74 % to 2.61 % on Tuesday. Freddie Mac offers the average mortgage interest rates by surveying the lenders throughout the US.

The interest rate jumps came once the mortgage rates chiefly dropped down post the aftermath of Federal Reserve’s declaration that it would decrease the $85 billion-a-month bond-purchasing stimulus as of now.

Lastly, SunTrust’s also has Jumbo loans. Under this category, applicants can only choose from the 30-year fixed. The interest rate for this plan is 4.490%, APR being 4.601%. If compared with another huge Bank – BOA, both the banks are offering 30-Year Fixed Mortgage at similar interest rates.

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.