The benchmark 30 year fixed rate loan interest rates at Suntrust Banks (NYSE:STI) are coming out at 4.375% and an APR of 4.4853% today. The best 30 year FHA fixed rate mortgage interest rates at the bank start at 4.000% carrying an APR of 5.6770%. The shorter term 15 year fixed rate mortgage interest rates are on the books at 3.300% carrying an APR of 3.5109% today.
5/1 ARM loans at Suntrust are on the books at 3.200% yielding an APR of 3.0908% to start. 7 year Adjustable Rate Mortgages are available starting at 3.750% currently with a starting APR of 3.3954%.
Stock Market Update
Loan interest rates rise and fall with MBS prices that go in the same direction as the stock market. Financial markets waned today to leave the DOW at 15,337.70 up -0.73%.
As expected Suntrust were in synch with the DJIA direction. Drilling down a bit, Suntrust’s own stock moved higher to 34.91 up +1.54%.