Today’s Mortgage Rates: BB&T, Citibank and Wells Fargo Refinance Rates for August 14, 2012
Following a rather uneventful day in terms of economic data, this Tuesday some significant data got released on the domestic economy, which gives us information about where the U.S. economy is heading. Besides that, some interesting bits of news saw the light of day about the Eurozone, which may have an in-direct effect on mortgage rates this week.
Earlier on Tuesday, the Commerce Department reported that Retail Sales in July advanced 0.8%, a surprisingly good data, marking the first gain in four months. The rise in retails sales was driven by a rebound in consumer spending. Previously, analysts polled by Reuters had expected retail sales to post a 0.3% increase.
Another essential report from today is the Producer Price Index for July. According to figures from the Commerce Department released this Tuesday, wholesales prices in the United States ticked up a seasonally adjusted 0.3% last month. The core PPI, which excludes energy and volatile food prices gained 0.4%, the biggest upward movement since January.
With regards to news from the EU, Germany’s economy grew 0.2% in the second quarter of 2012, while France recorded zero growth in the same period. Overall, economic growth in the EU-27 countries as a whole contracted 0.2% in Q2.
Today, we reported that mortgage rates at Bank of America (NYSE:BAC) and TD Bank (NYSE:TD) remained unchanged for the most part, while we noticed some improvements at Chase (NYSE:JPM). Now, let’s take a look at refinance mortgage rates at other top lenders.
Branch Banking and Trust (NYSE:BBT) is now offering the standard 30-year fixed mortgage for as low as 3.625% which is accompanied by an APR sum of 3.689%. Considering that yesterday this package was offered at a rate of 3.875%, today’s rate looks like a notable improvement. As for the 15-year fixed counterpart, the opening rate remained firm at 3.375% and an APR of 3.510% as of Tuesday.
The rate on the 30-year fixed FHA type of loan at BB&T Bank is now standing at 3.625% and bears an annual percentage rate of 3.835%.
Mortgage loan refinancing at Citibank (NYSE:C) may be appealing to some would-be borrowers, as the current interest rate on the 30-year fixed refinance deal is 3.875% and features an annual percentage rate of 4.071%. Those who consider to refinance with the assistance of Citibank, but would rather opt for the 15-year fixed loan, can expect 3.250% in interest and 3.556% by way of APR.
Wells Fargo (NYSE:WFC), one of the biggest mortgage lender in the U.S., offers the 30-year FRM this Tuesday at a rate of 3.875% plus an APR sum of 4.051%. On the other hand, the 15-year fixed rate deal demands 2.875% in interest and an annual percentage rate of 3.182%.
FHA-backed mortgage loans are also available at Wells Fargo, with the 30-year fixed FHA now being advertised at a rate of 3.500% and bears an APR variable of 4.551%.
For more details on today’s mortgage rates, and terms and conditions, please visit lenders’ websites.