Standard 30 year loan deals at Suntrust Banks (NYSE:STI) are coming out at 4.375% carrying an APR of 4.4853%. The lower FHA 30 year mortgage loans are coming out at 4.000% at the bank and APR of 5.6770%. Shorter term, popular 15 year fixed rate loan interest rates start at 3.300% yielding an APR of 3.5109% today.
The 5 year ARM deals have been quoted at 3.200% at Suntrust with an APR of 3.0908%. The 7/1 Adjustable Rate Mortgage interest rates have been quoted at 3.750% carrying an APR of 3.3954%.
Stocks and Mortgages
Bank mortgage rates vacillate with securities specifically for mortgages which partially track with the stock market. Securities waned by close of day today leaving the DJIA at 15,337.70.
Interest rates at Suntrust did not defy Wall Street. And now, the banks stock price strengthened to 34.91 up +0.53.