The benchmark 30 year fixed rate mortgages at Suntrust Banks (NYSE:STI) are being quoted at 3.625% yielding an APR of 3.734% today. The FHA 30 year loans have been quoted at 3.625% at the bank yielding an APR of 4.625%. Popular 15 year FRMs are on the books at 2.800% at the bank and APR of 3.013%.
5/1 Adjustable Rate Mortgages at Suntrust can be had for 2.400% yielding an APR of 2.895% to start. The 7/1 ARM loans are available starting at 2.625% today and an APR of 2.935%.