SunTrust (NYSE:STI) is today offering a range of mortgage deals that in most cases have ceased from the rally of rises seen earlier this week, in some cases once again dropping to near all time low levels.
For those looking into new or used home purchase, the 30 year fixed rate mortgage option is today being offered for 3.990% with a resulting APR of 4.101%, while the 15 year option for home purchase is at 3.375% with an APR of 3.566%. 30 year terms for jumbo mortgages are being advertised with a rate of 4.875%, which amounts to an APR of 4.987%.
The 7/1 ARM term for home purchases it today being offered at a starting rate of 3.250% with an APR of 2.807%, while the 5/1 ARM term is at 2.875% to start with a resulting APR of 2.570%.
It had been thought that the time at which US borrowers could secure the very best mortgage deals had well and truly past, with a number of minor consecutive rises having been noted during the early stages of the week. However, the reverse has now become the case and many products are once again offering value not seen in decades.