After quoting unchanged mortgage rates for the past few days, the US based mortgage lender, Branch Banking and Trust (NYSE: BBT), quoted higher lending rates for the fixed rate mortgage deals coming out of the bank on February 7, 2014. This Friday, the potential home buyers will find a steep rise in the benchmark 30 year fixed mortgage interest rates at the bank, which will certainly hamper the overall demand of the bank’s loan products in the market.
According to the new mortgage sheets published by the bank, the standard, 30 year fixed rate mortgage home loan deals are coming out at an interest rate of 3.750% today and are backed by an annual percentage rate of 3.872%. On the other hand, the relatively shorter, 15 year fixed rate mortgage loans are being advertised at an interest price of 4.375% and an APR yield of 4.877% today.
In the exclusive lending zone, the interested borrowers can find the midterm 20 year fixed rate mortgage deals being traded at an interest cost of 3.375% and backed by an annual return rate of 3.949% today. However, the shortest, 10 year fixed rate mortgage packages are also published in the bank’s books against a lending charge of 3.750% and an APR yield equivalent to 4.395% today.
When it comes to the refinancing mortgage deals, the potential borrowers can acquire the popular 30 year fixed rate mortgage deals at an interest rate of 3.625% and an APR yield of 3.904% today. However, the short term, 15 year refinancing fixed rate mortgage home loans can be locked in at an interest price of 4.250% and an annual return rate of 4.773% this Friday.
For the seekers of unique refinancing deals, the bank is now offering the midterm 20 year fixed rate mortgage loans at an interest price of 3.250% and an APR yield of 3.916% to begin with. On the other hand, the shortest, 10 year refinancing fixed rate mortgage packages can also be found trading at an interest price of 3.625% and an APR yield of 3.916% today.
The mortgage rates published by banks are normally affected by the change in prices of the mortgage backed bonds and securities, which trail the stock market movements on any normal trading day. As the stock market lost its ground and left the DJIA index at 15337.70, the bank moved along the same direction for publishing its mortgage rates. Regardless of the interest rates, the stock price of BBT shares rose up by +0.40 and reached at a higher 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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