The best 30 year fixed rate mortgages at Suntrust Banks (NYSE:STI) are being offered for 4.375% today carrying an APR of 4.4853%. The best 30 year FHA FRM interest rates are on the books at 4.000% yielding an APR of 5.6770%. Popular 15 year FRM interest rates start at 3.300% at the bank today and an APR of 3.5109%.
The 5 year Adjustable Rate Mortgages at Suntrust are coming out at 3.200% with an APR of 3.0908%. The 7 year ARM deals are being offered for 3.750% currently showing an APR of 3.3954%.
How are the mortgage rates connected to the stock market?
Interest rates often change as a result of securities made up of loan packages that follow stock market motions. Wall street went down by market close today leaving the DJIA at 15,337.70 up -0.73%.
Today’s rates at Suntrust moved in the same direction as the days trading results. Independent of mortgage rates, Suntrust’s own stock ticker strengthened to 34.91 up +0.53.