Today’s Mortgage Rates: Bank of America, Wells Fargo and BB&T Refinance Rates for August 21, 2012
U.S. mortgage rates remained stable on Monday, as market movements were rather minimal during the trading session. With no meaningful data scheduled to be released this week, mortgage rates will be mainly driven by news and rumors from Europe. Despite the fact, that interest rates held steady for two days in a row, it’s too early to speculate on a potential bounce back.
Mortgage lenders barely changed their rate sheets since the beginning of the week, therefore borrowers probably won’t notice significant changes in current rates coming to Tuesday. On Wednesday, we may get some information on the Fed’s stance, whether it will be supporting additional quantitative easing or not. Other than that, we can expect the usual volatility in mortgage rates.
Regarding today’s mortgage rates, Bank of America (NYSE:BAC) advertises the 30-year fixed mortgage for home refinancing at a rate of 3.750% which amounts to an annual percentage rate of 3.920%. The 15-year FRM demands 3.000% in interest and comes with an APR variable of 3.225%.
Looking at other type of loans at Bank of America, the flexible 7/1 adjustable rate mortgage is carrying a rate of 2.750% and yields to an APR sum of 3.230%. In case of the 5/1 ARM, borrowers can expect 2.375% in interest plus and 3.172% by way of APR.
Mortgage interest rates at Wells Fargo (NYSE:WFC) remained unchanged this Tuesday. Borrowers can get the standard 30-year fixed, long-term refinance loan locked in at a rate of 3.875% and an APR of 4.051%. Those who would rather take on the 15-year fixed counterpart, will need to pay 3.000% in interest, and the package features an APR figure of 3.308%.
Today, Wells Fargo’s 30-year FHA-insured fixed rate loan is starting at 3.750% and it’s accompanied by an annual percentage rate of 4.827%.
Moving on to Branch Banking and Trust (NYSE:BBT), the 30-year fixed rate mortgage has an opening rate of 3.875% and bears an APR variable of 3.993%. The 15-year version of this loan can be picked up at a rate of 3.375% and comes with an APR figure of 3.547% as of Tuesday.
The FHA-backed 30-year FRM is now coming out at 3.625% and has a competitive APR in the form of 3.931%.
Now, those who are more interested in ARM deals, will see BB&T Bank’s 7/1 ARM being offered at a rate of 2.875% plus an APR sum of 2.967%. On the other hand, the 5-year ARM package might be a suitable option for others, as the current rate is floating around 3.375% with an APR amounting to 3.449%.
For more information on today’s mortgage rates, and terms and conditions, please head over to lenders’ websites.