Standard 30 year fixed rate loan interest rates at Suntrust Banks (NYSE:STI) are on the books at 4.375% and an APR of 4.4853% today. 30 year FHA loans stand at 4.000% yielding a bit higher APR than the conventional loan of 5.6770%. The short term, popular 15 year fixed rate mortgages are available starting at 3.300% and APR of 3.5109%.
ARM interest rates in the 5 year category start at 3.200% at Suntrust carrying an APR of 3.0908% to start. 7 year ARMs are being quoted at 3.750% currently and the APR is 3.3954%.
How are the mortgage rates connected to the stock market?
Interest rates change as a result of market traded MBSs that are in concert with stock market movements. Wall street fell by close of day today to leave the DJIA at 15,337.70 up -0.73%.
For today Suntrust moved in the same direction as the trading pattern of the day. Independent of mortgage rates, Suntrust’s own stock rose to 34.91 up +0.53.