The benchmark 30 year fixed rate mortgages are coming out at 4.375% at Suntrust Banks (NYSE:STI) today yielding an APR of 4.4853%. The FHA options for the 30 year loans start at 4.000% at the bank and an APR of 5.6770%. Popular 15 year fixed rate mortgage interest rates at the bank start at 3.300% today yielding an APR of 3.5109%.
5 year ARM interest rates at Suntrust start at 3.200% with an APR of 3.0908% to start. 7 year ARM interest rates are coming out at 3.750% with an APR of 3.3954% to start.
DOW and Stock Market Results
Bank mortgage rates often change because of mortgages traded by banks in financial markets that go up and down with the markets. Markets fell by close of day today leaving the DJIA at 15,337.70 a decrease of -113.35.
Rates at Suntrust did not defy the trading pattern of the day. Drilling down a bit, this particular bank’s stock strengthened to 34.91 up +1.54%.