The best 30 year loan interest rates have been listed at 4.375% at Suntrust Banks (NYSE:STI) and an APR of 4.4853% today. 30 year FHA fixed rate mortgages can be had for 4.000% at the bank and an APR of 5.6770%. The shorter term, popular 15 year loan interest rates are being quoted at 3.300% at the bank and APR of 3.5109% today.
The 5 year ARM loans at Suntrust have been quoted at 3.200% with a starting APR of 3.0908%. 7/1 Adjustable Rate Mortgages are listed at 3.750% today yielding an APR of 3.3954% to start.
Stock Market Update
The rates published for mortgages usually vacillate with MBS’s (mortgage backed securities) prices that usually move with the stock market. Securities went down in today’s trading to leave the DJIA at 15,337.70.
Rates at the bank moved in the same direction as the days market results. And now, this particular bank’s stock moved higher to 34.91 up +0.53.