Mortgage Rates are determined taking into account the factors like inflation, the Federal Reserve Policy and the nature of economic growth. As a result, you need to keep an eye on the changing market scenario and use services like rate lock to get the most affordable deal.

When you complete a mortgage application online, the loan agreement will show that your rate is floating. Soon you will receive a notification allowing you to request a rate lock, which you can do so the moment you find something that you really can afford.

You can keep on checking BB&T; Mortgage Rates Today and other online tools and resources to get current and most updated information. The lock period for a home purchase loan is 60 days and the same for a refinance loan is 30 days.

BB&T Fixed Mortgage Rates

A fixed-rate loan scores over an adjustable-rate one due to one main advantage – stability. An adjustable mortgage solution works fine if you have a short-term objective to stay in your home.
The rates are lower in comparison to a fixed loan, but you are subject to market fluctuation once the fixed-rate period is over. It is, however, possible to consider a refinancing option to make a switch to either 15 year mortgage or a 30 year mortgage after this period.

These two options also have their own advantages and disadvantages as being mentioned here.

• 30 Year Mortgage Rates: It is the most popular loan option as it offers an affordable monthly payment calculated with a fixed interest rate. The amount you pay each month consists of a very small portion of your principal, applicable interest rate, and part of some of your closing costs, such as insurance, taxes and other fees. Check APR of the loan program to get a clear view of what your mortgage is going to cost you over the period of the loan term.
• 15 Year Mortgage Rates: It may be a great option for those who can afford a slightly higher monthly payment. As the number of payments decrease, the total interest you would be paying over the loan term will also decrease. Moreover, you get an opportunity to build home equity faster and pay off your debt sooner. If you are thinking of a cash-out refinance or a home equity loan in future, a 15 year mortgage is what you are looking for.

BB&T Mortgage Rates Today

It is hard to see BB&T; Mortgage Rates Today online, but you can get phone number of a loan officer located near you to schedule a meeting. The loan officer will help you select a mortgage or refinance product as well as get the current mortgage rate for the same.

Even if your finance requirements exceed the conforming limit, you can get solutions under jumbo mortgage options. Branch Banking and Trust Company is based in NC, but it is possible to find a representative of the bank at any location within the country. Call the number given here or explore its website to get more information regarding this.