Mortgage Rates Today: How Low Can SunTrust Rates Go?
Just when most were convinced mortgage rates across the US could not go any lower and that the idea time to lock in an agreement had passed, many national averages have once again broken their own records and hit the lowest levels in over 60 years. Today, SunTrust (NYSE:STI) is offering a wide range of packages with the potential to save US borrowers considerable sums of money.
Among the wide variety of package available for those looking into new or used home purchases, 30 year fixed term deals can today be taken out for a rate of 3.875% with a resulting APR of 4.017%, while the 15 year alternative today rests at 3.375% with an APR of 3.566%. 30 year terms for fixed rate Jumbo mortgages can today be locked in for 4.875% with a resulting APR of 4.987%, while the 30 year fixed FHA mortgage is now at 3.750% with an APR of 4.685%.
With regard to adjustable terms, the Agency 7/1 ARM is being offered with a starting rate of 3.125% and an APR of 2.778%, while he 5/1 ARM is at 2.875% with an APR of 2.570%. While nobody is expecting the excellent rates across all packages to last forever, there is little reason to believe that the current lows will go anywhere other than further down in the near future as a result of back international and domestic concerns.
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