SunTrust released mortgage interest rates for 10/24/2013

SunTrust released mortgage interest rates for 10-24-2013Today, SunTrust’s mortgage rates for a 30-year fixed rate mortgage are holding at 3.990% yielding an APR of 4.1343% while today’s rates for a 15-year fixed rate mortgage is 2.990% which has the result of an APR of 3.2409%. 4.34% is the US average rate for a 30-year fixed mortgage as of today and the rate for a 15-year fixed rate is 2.875% with a resulting APR of 3.151% which makes this a much more competitive rate as you can see.

SunTrust has a variety of loans like a 30-year Agency 5/1 ARM with an interest rate of 2.750% and an APR of 2.9399%. They also offer an Agency 7/1 ARM 30 Year loan at the rate of 3.250% and an APR of 3.1565% and a 30 Yr FHA – Fixed mortgage at an interest rate of 3.700% resulting and the APR of 5.4852%. These interest rates are much more competitive that other industry leaders as you will see.

Comparing SunTrust banks rates with other industry leaders such as: Wells Fargo and Bank Of America SunTrust is in the leading half of the industry. Wells Fargo is ready to offer  a 30-year fixed rate mortgage with a rate of 4.250% and the APR of 4.421% while Bank Of America has a 30-year fixed 5/1 ARM at a rate of 4.125% with the resulting APR at 4.230%. Wells Fargo is offering a Jumbo 30-year fixed mortgage at an interest rate of 4.000%.

Today SunTrust’s interest rates are very competitive when compared to two of the leaders in this industry. The comparison of Bank Of America to SunTrust Bank and Wells Fargo show that SunTrust has the best rate available between these three financial institutions today on the 30-year fixed interest rate at 3.990% mortgage as well as 2.990% on their 15-year fixed interest rate mortgage.

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.