Standard 30 year fixed rate mortgages are being offered for 4.375% at Suntrust Banks (NYSE:STI) and an APR of 4.4853% today. The lower FHA 30 year mortgage loans have been offered at 4.000% at the bank yielding an APR of 5.6770%. The short term, popular 15 year FRMs stand at 3.300% at the bank and APR of 3.5109%.
The 5/1 Adjustable Rate Mortgages at Suntrust are coming out at 3.200% and an APR of 3.0908%. 7/1 ARM interest rates are being offered for 3.750% with an APR of 3.3954%.
Update on the Market and Stock performance
All the mortgage rates usually go up and down with mortgage financial instruments that move in concert with the stock market. The stock market went down by market close today with the DJIA at 15,337.70 a decrease of -113.35.
For today at least Suntrust moved along with Wall Street. Closer to home, the banks stock strengthened to 34.91 up +0.53.