Today’s Mortgage Rates at Bank of America, Wells Fargo and SunTrust Bank (May 19, 2014)

As the recovery of housing market readies to shift to its top gear this spring home buying season, regular demand and supply forces are planning on producing unexpected results. This truth was uncovered in the U.S. Economic and Housing Market Outlook released by Freddie Mac for the month of May. Freddie Mac officials predict that the new home construction market is to experience a rise of 18% and house price appreciation will taste a moderate annual growth of about 5% in 2014.On the other hand, new as well as existing home sales will wander around 5.5 million, the same as recorded during the  previous year, as the number of new homes available for sale remains low in several U.S. markets. Based on a huge fall in the refinancing volume, single family originations are most likely to deal with a drop of 35% this year in comparison to last year’s figures. Refinance, on the other hand, is expected to account for over 40% of the originations this year, down from 60% as recorded last year.

Bank of AmericaAs per the most recent mortgage information released by the Charlotte based mortgage lender Bank of America (NYSE: BAC), the benchmark 30 year fixed rate mortgage plans are coming out at an interest price of 4.000% and an annual percentage rate of 4.157% today. The relatively shorter 15 year fixed rate mortgage plans are now traded at an interest price of 3.375% and an annual return rate of 3.529% on May 19, 2014. As far as the loan options with variable interest rates are concerned, the best 5 year adjustable rate mortgage loans are advertised at an interest rate of 2.875% and are backed by an APR yield of 2.875%.

When it comes to the refinancing options, the popular 30 year fixed rate mortgage deals can be locked in at an interest rate of 4.125% and an APR yield of 4.282% this Monday. The short term 15 year counterparts of the 30 year refinancing fixed rate home loan deals are now up for grabs at an interest rate of 3.375% and an APR yield of 3.601% today. In the flexible home loan section, the bank offers its best 5 year refinancing adjustable rate mortgage home loan deals at an interest rate of 3.125% and an APR yield of 2.952%.

Wells Fargo

At the most popular U.S. based mortgage provider Wells Fargo (NYSE: WFC), the latest mortgage charts reveal that the standard 30 year fixed rate home loan deals are traded at the same interest rate of 4.250% and are backed by an annual percentage rate of 4.481% today. In the short term lending section, the 15 year fixed rate mortgage plans can be locked in at an interest price of 3.625% and an APR yield of 3.853% this Monday.

In the refinancing arena, interested customers can find the 30 year fixed rate mortgage home loans advertised at an interest price of 4.250% and carrying an annual return rate of 4.335% today. The relatively shorter 15 year refinancing fixed mortgage home loans can be secured at an interest price of 3.500% and an APR yield of 3.647% this Monday.

SunTrust

At the beginning of a new trading week, the standard long term 30 year fixed rate mortgage home loan deals are being offered by SunTrust Bank (NYSE: STI) at an interest rate of 4.375% and an annual percentage rate of 4.4853%. For the seekers of relatively shorter home loan deals, 15 year fixed rate mortgage home loan packages are up for grabs at an interest rate of 3.300% and are carrying an APR yield of 3.5109% on May 19, 2014.

Shifting sights towards the adjustable rate mortgage section, mortgage shoppers can find the best 5 year home loan deals being advertised at an interest rate of 3.200% and an APR yield of 3.0908%. The more flexible 7 year adjustable rate mortgage home loan plans can now be locked in at an interest rate of 3.750% and an APR yield of 3.3954% this Monday.