Mortgage interest rates have been on a downward path for the second straight day at U.S. financial institution Branch Banking and Trust (NYSE:BBT), according to our observations. The North Carolina-headquartered mortgage lender’s updated loan information for Wednesday, August 6 showed that the 30-year fixed mortgage is now offered at a rate of 4.125%. The mid-term, 20-year conventional home loan can be secured at a rate of 3.875%, which translates to an improvement of 0.125% compared to its former rate quote (4.000%) from a day earlier. Looking at shorter-term home loans at this lender, the 15-year fixed mortgage is available today at a rate of 3.250%. An even shorter-term option at BB&T, the 10-year home mortgage is listed at a rate of 3.000%, an improvement over the previous rate level (3.125%) that it held on Tuesday.
In contrast to conventional home loans, non-conventional mortgage packages haven’t seen any changes today at this lender. The FHA-insured 30-year home loan is offered at a rate of 3.625% on Wednesday. The 30-year fixed VA mortgage also looks stable today, with the interest rate hovering at 3.625% on this type of loan. For more information on BB&T’s current mortgage interest rates, please check the data below.
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 ideal loans at this bank.
BB&T Home Purchase Rates
30-Year Fixed Mortgage: 4.125%, 0.250 discount points, 4.213% APR
20-Year Fixed Mortgage: 3.875%, 0.125 discount points, 3.982% APR
15-Year Fixed Mortgage: 3.250%, no discount points, 3.366% APR
10-Year Fixed Mortgage: 3.000%, 0.500 discount points, 3.275% 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, 3.867% 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: 4.250%, no discount points, 4.317% APR
20-Year Fixed Mortgage: 4.000%, 0.250 discount points, 4.122% APR
15-Year Fixed Mortgage: 3.375%, 0.125 discount points, 3.510% APR
10-Year Fixed Mortgage: 3.250%, 0.125 discount points, 3.446% 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 said last week that the average interest rate on the 30-year fixed mortgage eased to 4.12%. The average interest rate ticked down on the 15-year FRM last week, as it’s now coming out at 3.23%, a 3 basis points decrease compared to data from a week earlier.
For further information on current mortgage rates at BB&T Bank, borrowing terms and conditions, as well as other mortgage loan options, please visit the lender’s website.