SunTrust (NYSE:STI) is another example of a major US lender which has seen a slight increase in average mortgage rates over the course of the week so far, though none significant enough to take the figures away from some of the lowest levels seen in decades.
For those looking to SunTrust for a deal to secure a new or used home purchase, 30 year fixed term mortgages can today be taken out for 4.125% with an APR of 4.238%, while the popular 15 year fixed mortgage is being advertised for 3.375% with a resulting APR of 3.585%/
The Agency 5/1 ARM 30 year term is today at 2.875% with an APR of 2.560%, while the 7/1 alternative can be taken out for 3.125% with an APR of 2.778%.
30 year Jumbo loans on the other hand are being offered for 4.875%, with a resulting APR of 4.987%.
The recent rally in average prices is set to continue for some time to come, as faith appears to be building once again in investors due to positive domestic and international news. Needless to say, those looking to secure the best possible mortgage deals are very much on borrowed time and are advised to act soon so as to avoid missing out once and for all.