Those potential homeowners and those currently owning homes and planning on refinancing will be watching to see what banks and financial institutions are offering. Rates fluctuate from day to day and bank to bank and those unknowledgeable about the intricacies of getting the best deal may be somewhat lost when trying to figure out which is the best one.
Today’s figures offered at BB&T CORP. (NYSE:BBT) include a mortgage lasting for 30 years and having a fixed rate, starting at 3.125% and having an APR of 3.273%. Those who prefer the shorter term mortgage loan having the fixed rate of 15 years can calculate a loan at a starting rate of 3.75% with an APR yield of 3.921%.
The fixed rate mortgage of a 10 year duration starts at 3.125% today with a yielding annual percentage rate of 3.648%. The 20 year mortgage interest rates start at 2.625% carrying an annual percentage rate of 3.194%.
FRM 30 year rate of refinancing is offered today for 3.125% at BB&T. That mortgage will yield a 3.273% APR. For 15 years on a refinance loan the starting rate is quoted at 3.375% today having an annual percentage rate of 3.921%.
The best deal offered on a 10 year refinance fixed rate mortgage is quoted for 3.125% and an APR of 3.648% today. For the optimal deal on a 20 year refinance loan a quote of 2.625% with an APR of 3.194% is being offered today.
By keeping track of not only different rates, but patterns of fluctuation, the potential homeowner can analyze and find the most advantageous interest rate for the mortgage loan of the amount he or she requires. Often it is helpful to maintain the relevant data on an excel sheet to make it easier to interpret.