Today’s Mortgage Rates: BB&T Fixed, VA and FHA Home Loans and Refinance Rates for October 16

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Today’s Mortgage Rates: BB&T Fixed, VA and FHA Home Loans and Refinance Rates for October 16North Carolina-based lender, Branch Banking and Trust (NYSE:BBT) revised its home purchase and refinance loan information for Thursday, October 16. Updated data on the lender’s current mortgage interest rates and APRs are listed below.

Branch Banking and Trust has been providing attractive mortgage rates under both its home purchase and refinance loan programs, so those who are looking to invest either in a new / used home or to refinance an existing loan, may find some suitable loan products at this lender.

BB&T Home Purchase Rates

30-Year Fixed Mortgage: 3.875%, 0.500 discount points, 3.983% APR
20-Year Fixed Mortgage: 3.625%, 0.500 discount points, 3.774% APR
15-Year Fixed Mortgage: 3.000%, 0.375 discount points, 3.170% APR
10-Year Fixed Mortgage: 2.875%, 0.375 discount points, 3.123% APR
30-Year Fixed VA Mortgage: 3.375%, 0.500 discount points, 3.478% APR
30-Year Fixed FHA Mortgage: 3.375%, 0.500 discount points, 3.624% 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: 3.875%, 0.250 discount points, 3.962% APR
20-Year Fixed Mortgage: 3.625%, 0.125 discount points, 3.730% APR
15-Year Fixed Mortgage: 3.000%, 0.375 discount points, 3.170% APR
10-Year Fixed Mortgage: 2.875%, 0.375 discount points, 3.123% 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.

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Heading over to average mortgage interest rates, government-sponsored mortgage-finance company, Freddie Mac announced this week that the average interest rate on the 30-year fixed mortgage fell to 3.97%. The average interest rate headed lower on the 15-year FRM as well, now it stands at 3.18%, according to the Virginia-based mortgage-finance company’s latest survey.

For additional details on the latest home purchase and refinance mortgage interest rates at BB&T, as well as information on borrowing terms and conditions and loan assumptions, please head over to the lender’s website.