Yesterday we reported that interest rates ticked down on Branch Banking and Trust’s (NYSE:BBT) 20-year and 15-year conforming home loans. Now, it seems that those improvements haven’t evaporated on Friday, as starting rates on the aforementioned loans are holding steady.
Currently, the mid-term 20-year fixed home purchase loan is listed at a rate of 3.875% at this mortgage provider. Borrowers, who are intending to secure the 15-year fixed mortgage, can expect to pay 3.125% interest cost on Friday. Looking at additional home loan packages, the standard 30-year FRM hasn’t seen any changes today, with the interest rate coming out at 4.125%, just like a day earlier. A shorter-term alternative is BB&T’s 10-year conventional home loan, which is published at a rate of 3.000%, according to the updated loan information.
Moving on to see current government loan options, the Federal Housing Administration (FHA)-backed 30-year fixed home loan remained stable today at a rate of 3.625%. The same can be said about the 30-year VA home mortgage, as it demands 3.625% in interest. Check the data below for more information on BB&T’s home purchase mortgage rates, as well as details on the latest home refinancing options.
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 loan, may find some ideal mortgage offerings at this bank.
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 see the financial institution’s website.