SunTrust Mortgage Rates August 10, 2010

SunTrust Mortgage rates have continued to move lower along with the rates offered by most of the major U.S. bank mortgage lenders.  SunTrust mortgage is 100% subsidiary of SunTrust Bank.  SunTrust mortgage offers a variety of mortgage programs including fixed rate home loans, adjustable rate mortgages, FHA mortgages and jumbo mortgages in all the 50 states.

The mortgage rates, points and closing costs presented for online mortgage applications by SunTrust Mortgage may vary based on specific loan features such as down payment, loan amount, debt ratios, the geographic location and other terms and conditions. 

Current mortgage rates advertised by SunTrust Mortgage for online mortgage applications include:

A 30 year fixed rate mortgage loan is at 4.375% with 1.125  points for a 4.501% APR.
15 year fixed mortgage rate of 3.750% and 1.375 points with an APR at 4.002%.
Jumbo 30 year mortgage rate is at 5.125% and 1.0 point resulting in a 5.239% APR.
The 30 year FHA mortgage rate from SunTrust Mortgage is at 4.375% and 1.0 point and a 4.901% APR.
Two adjustable rate mortgage loans from SunTrust include the 5/1 ARM and 7/1 ARM.
A 5/1 adjustable rate mortgage that has a fixed rate for the initial five years of the loan 3.375% and 1.0 point with an APR at 3.412%
A 7/1 adjustable rate mortgage that has a fixed rate for the initial seven years of the loan has a mortgage rate of 3.625% with 1.125 points and a 3.553% APR.

The listed SunTrust mortgage rates, points and closing costs are subject to change by the bank without notice.  The mortgage rates are examples of rates available for a 60 day loan lock on a single family, owner-occupied properties with down payment of 20% or greater, for mortgage loan applications submitted using our the SunTrust Mortgage online loan application.

Large U.S. banks, including SunTrust Bank, have been originating a larger share of residential mortgages since the credit crisis started.  Bank lender mortgage rates for both purchase and refinance have reached historic lows.  Many interest rate watchers however, believe that mortgage rates may not finished bottoming out for the year. 

Mortgage interest rate movements are as hard to predict as just about any investment and no one can be certain whether mortgage interest rates will continue to push lower or turn around and go up.  Borrowers seeking to purchase a new home should make sure they are comfortable with the investment and shop for the best mortgage rate and service without paying too much attention to the direction of interest rates, even the experts miss the boat on rate predictions on a regular basis.

To find a SunTrust Mortgage loan officer to help with the mortgage process, the toll free number is 800-634-7928.