Banking Branch and Trust (NYSE: BBT), unlike other US mortgage lenders, is offering its standard new home purchase and refinancing loans at a little better rate in comparison to the past couple days. While the benchmark 30 year fixed mortgage interest rates continue to remain the same, it is the APR yields that showed signs of improvement on Thursday.
BB&T, in today’s listings, is offering its best 30 year fixed rate mortgage loans at an unchanged interest rate of 3.625%, but an improved annual percentage rate of 3.956% today. For the investors looking for short term alternatives, the bank provides 15 year FRM loans at a rate of 4.250% and a little higher APR yield of 4.771%.
In its unique lending category, the bank provides the investors with an option of 20 year fixed rate mortgage loans at a rate of 3.250% and an APR yield of 3.858%. The borrowers can also benefit from the shortest, 10 year fixed rate mortgages that are up for grabs at a rate of 3.625% and an impressive APR yield of 4.484%.
BB&T also manages to attract a lot of customers towards its refinancing division by offering the 30 year refinancing fixed rate mortgage loans at an interest rate of 3.625%, which come along with an APR yield of 3.935% to start with. The short term refinancing needs can be fulfilled by acquiring 15 year refinancing ARM deals at a rate of 4.250% and an APR yield of 4.750%.
In the exclusive mortgage section, the bank tries to impress the borrowers with its 20 year refinancing fixed rate mortgage loans by giving them away at a rate of 3.250% and carry an APR yield of 3.840% today. The 10 year refinancing FRM loans are quoted at an interest rate of 3.625% and carry along an annual percentage rate of 4.462%.
The mortgage rates often fluctuate depending upon the mortgage bonds and securities, while following the stock market movements carefully. The BB&T shares moved to a higher end as the market closed yesterday and reached at a mark of $34.01, which is a healthy rise of 0.44%. The rise is definitely higher than the rise in the yesterday’s closing price of $33.86.
During the day trading session today, the BBT rates have danced well between the $33.69 and $34.13 mark and during this period, a total number of 2.99 million shares of the bank were traded, which is quite below the usual daily average volume of about 3.51 million shares.
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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