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Summary of Current Mortgage Interest Rates at Bank of America, Wells Fargo and SunTrust on June 6, 2014

Summary of Current Mortgage Interest Rates at Bank of America, Wells Fargo and SunTrust on June 6, 2014

According to a latest report issued by the Wall Street Journal yesterday, Bank of America might be ordered to pay more than $12 billion to the U.S. government and several other state governments for indulging in poor mortgage practices. Of this $12 billion, $5 billion, approximately, will be used for providing financial assistance to troubled homeowners. The assistance will be offered in the form of reduced principal amounts, modified loans, and payments for the blight removal processes. 

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Bank of America

Staying firm with its pricing policy, Bank of America (NYSE: BAC) quoted its standard 30 year fixed rate mortgage home loans are at the same interest rate of 4.125% and are an annual percentage rate of 4.224% on June 6, 2014. In the short term home loan section, the bank is now offering 15 year fixed rate mortgage home loan plans at an interest price of 4.000% and an annual return rate of 4.162% this Friday. When it comes to more flexible lending options, the bank quotes its 5 year adjustable rate mortgage plans at an interest rate of 3.250% and an APR yield of 3.442% today.

In the refinancing home loan division, the bank caters to the needs of interested mortgagors through its popular 30 year fixed rate mortgage packages, which are now traded at a lending rate of 4.125% and yielding an APR of 4.275% today. Borrowers interested in walking down a shorter route can opt for the ideal 15 year fixed rate mortgage home loans, which are now published in the bank’s loan book at an interest rate of 4.125% today and an APR yield of 4.256%. As far as the adjustable rate loans are concerned, mortgage shoppers can spot the best 5 year refinancing variable rate home loan deals listed at a starting interest rate of 3.375% and carrying an annual percentage yield of 3.575% today.

Wells Fargo

At the major U.S. based financier Wells Fargo (NYSE: WFC), the benchmark 30 year fixed rate mortgage plans are being traded at improved interest rate of 4.375% and an annual percentage rate of 4.608% on June 6, 2014. For the seekers of short term home loans, 15 year fixed rate mortgage home loans are being advertised at an interest rate of 3.500% and an annual return rate of 3.765%.

Heading towards the refinancing zone, mortgage shoppers can find the popular 30 year fixed mortgage home loans sitting next to an interest rate of 4.250% and carrying an annual return rate of 4.335%. In the short term refinancing section, 15 year fixed rate mortgage home loan packages are listed at an interest rate of 3.500% and an annual return rate of 3.647% today.

SunTrust

This Friday, the 30 year fixed rate mortgage home loans are advertised at an interest rate of 4.375% and an annual return rate of 4.4853% at SunTrust Bank (NYSE: STI). The relatively shorter 15 year fixed rate mortgage home loans are now up for grabs at an interest rate of 3.300% and an APR yield of 3.5109% on June 6, 2014.

In the flexible home financing section, the bank offers its 5 year adjustable rate home loan options at an interest rate of 3.200% and an APR yield of 3.0908%. The more flexible 7 year adjustable rate mortgage plans are tagged with an interest price of 3.750% and an APR yield of 3.3954% to start with.

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.

About Stephany Morgan

Stephany Morgan covers business and finance related news.
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