After enjoying a smooth ride for a couple of days, the standard 30 year fixed mortgage interest rates took a flight today after seeing the indicts growing stronger. Today, Banking Branch and Trust Co. (NYSE: BBT) BBT +0.65% published somewhat higher rates of its best fixed rate mortgages and the adjustable rate mortgages as compared to the rates listed in the past few days.
The 30 year fixed rate mortgage (FRM) loan options have now been published at an interest rate of 3.625%, along with an annual percentage rate (APR) of 3.924%. Also, the benchmark 20 year fixed rate mortgages are up for grabs at a higher interest rate of 3.250% and carry an APR yield of 3.858% today.
For those looking for some short period financing options, the standard 15 year FRM schemes are published in the bank’s books at a rate of 4.250% and yield an APR of 4.750%. However, the admirers of the loan schemes with even shorter tenure can find 10 year fixed rate mortgages being listed at a rate of 3.625%, carrying an APR yield of 3.858%.
Coming to the refinancing arena, the BB&T today listed its best 30 year refinancing fixed rate mortgages at the rate of 3.625%. These loan schemes are yielding an annual percentage rate of 3.924% today. As far as the best 20 year refinancing fixed mortgage rates are considered, the bank publishes similar loan options at an interest rate of 3.250% and an APR yield of 3.858%.
The short term, 15 year refinancing FRM schemes are also published at somewhat higher rates today. BB&T provides the short term versions of the 30 year refinancing fixed rate mortgages at a rate of 4.2505 and an APR yield of 4.750%. Moreover, the even shorter, 10 year refinancing fixed rate mortgages can be acquired from the bank at a rate of 3.625% today, along with an APR yield of 4.451%.
With BB&T being sued in a strange lawsuit involving 16 NFL players, the shareholders and the borrowers are highly concerned about their relations with the bank. Though the stock market responded positively despite of the lawsuit today and gave the bank’s stock a hike of +0.40 by the day’s end, the mortgage rates disappointed the borrowers and raised their difficulties.
Considering that the lawsuit will be dealt with carefully, it might take some time for the BB&T mortgage rates to get back to their normal track once again. Until then, regular hiccups might be experienced as far as the best mortgage rates are considered.
Disclaimer: The rates quoted above are basically the average advertised by a particular lending company. No guarantee of taken from the lender’ aspect whether the borrower will qualify for the mortgage rates mentioned in the article. The lenders dole out interest depending upon various facets, some of which may be unique to the borrower. This website does not engage in the sale or promotion of financial products and makes no claims as to the accuracy of the quotation of interest rates.