Mortgage interest rates ticked down on select home purchase and refinance loan packages at Branch Banking and Trust (NYSE:BBT) on Thursday, July 10. Among today’s improvements we can mention the 20-year home mortgage loan package, which now carries 3.875% in interest. Back on Wednesday, this type of home loan was available at a rate of 4.000%. Another home mortgage loan, which is available at a lower interest rate today is the 15-year FRM, which is set at 3.125%. Before the reduction in borrowing costs, the aforementioned loan was published at a rate of 3.250%. In case of the long-term, 30-year fixed conventional loan, the current mortage rate on this loan hovers at 4.125%. Borrowers, who are more interested in obtaining the short-term, 10-year mortgage loan, can expect to pay 3.000% in interest.
Contrary to the above mentioned 20-year and 15-year conventional home loans, non-conventional mortgages haven’t seen any changes in interest rates today, according to the latest rate quotes from the lender. The 30-year FHA-insured fixed loan is quoted at a rate of 3.625% on Thursday. Individuals, who are looking to take on the 30-year VA mortgage, will encounter a rate of 3.625%. Check the details below for additional information on BB&T’s latest mortgage interest rates.
Branch Banking and Trust has been offering excellent mortgage rates under both its home purchase and refinance programs, so those who are looking to invest either in a new / used home or to refinance an existing mortgage, may find some suitable loan products at this lender.
BB&T Home Purchase Rates
30-Year Fixed Mortgage: 4.125%, 0.250 discount points, 4.214% APR
20-Year Fixed Mortgage: 3.875%, 0.125 discount points, 3.982% APR
15-Year Fixed Mortgage: 3.125%, 0.125 discount points, 3.260% APR
10-Year Fixed Mortgage: 3.000%, no discount points, 3.170% APR
30-Year Fixed VA Mortgage: 3.625%, 0.375 discount points, 3.720% APR
30-Year Fixed FHA Mortgage: 3.625%, 0.375 discount points, 3.868% APR
The rate information provided assumes the purpose of the mortgage loan is to purchase a property, an existing single family home to be used as a primary residence with a loan amount of $200,000 and an estimated property value of $250,000. The property is located in Washington, DC. The interest rate reflects a 60 day rate lock period. The actual mortgage interest rate will depend on a number of factors including but not limited to loan type, credit profile, property type, appraised value, occupancy and loan size.
BB&T Refinance Rates
30-Year Fixed Mortgage: 4.125%, 0.750 discount points, 4.256% APR
20-Year Fixed Mortgage: 4.000%, 0.125 discount points, 4.108% APR
15-Year Fixed Mortgage: 3.250%, 0.375 discount points, 3.422% APR
10-Year Fixed Mortgage: 3.125%, no discount points, 3.295% APR
The rate information provided assumes the purpose of the mortgage loan is to refinance an existing mortgage with a loan amount of $200,000 and an estimated property value of $250,000. The property is located in Washington, DC. The interest rate reflects a 60 day rate lock period. The actual mortgage interest rate will depend on a number of factors including but not limited to loan type, credit profile, property type, appraised value, occupancy and loan size.
Please, note that the current mortgage interest rates may vary without prior notice from the lender and are subject to change based on location, geography and other terms and conditions. The annual percentage rates (APR) were made based on discount points, origination fees, average loan fees and closing costs.
As far as average mortgage interest rates are concerned, government-sponsored mortgage-finance company, Freddie Mac reported on Thursday that the average interest rate on the 30-year fixed mortgage ticked up to 4.15% from the former 4.12% that it held earlier. The average interest rate increased on the 15-year FRM as well this week, and now it’s coming out at 3.26%.
For further information on current mortgage rates at BB&T Bank, borrowing terms and conditions, as well as other mortgage loan options, please take a visit to the bank’s website.