Monday Morning Mortgage Rates: SunTrust Home Purchase Deals Showing Incredible Strength

November 07, 2011 / Russell Legato, Residential Property Analyst

Were the latest run of expert predictions to have been realized, low mortgage rates across the US would have been all but confined to the history books, though as SunTrust (NYSE:STI) and many others are demonstrating today, even the most educated of predictions are no match for the current housing market, where all time record lows may once again be on the horizon.

Monday Morning Mortgage Rates: SunTrust Home Purchase Deals Showing Incredible Strength

In relation to SunTrust home purchase packages of particular value today, the 30 year fixed rate contract can be taken out for 3.875% and an APR figure of 4.017%, while the increasingly popular 15 year deal is now being advertised for 3.250% and APR of 3.477%.

30 year Jumbo loans can also be locked in for a superb rate of 4.375% and APR of 4.429%.

Adjustable rates are also showing similar levels of unexpected strength, with the Agency 7/1 ARM being advertised as starting at 2.875% and an APR of 2.641% variable, while the Agency 5/1 ARM has a truly unmissable opening rate of 2.625% and APR of 2.474% variable.

Of course, there are arguments from both sides as to which way mortgage rates will go throughout the course of the week, but for today at least there can be no doubting that the value across the board is really something special.

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