Mortgage is a word that is related to finance for purchasing of houses and property. When a person is inclined towards purchasing of houses or property, and they do not have enough money for the same, then mortgage is the best way to go for it.  The loan that one takes for buying a house is called a mortgage and the rate of interest that is payable for the same is known as the mortgage rate. On the basis of the interest rate the installments that one pays for the loan amount that one has taken is depends on the rate of interest. The categories of mortgage are also dependent on the term of the mortgages and accordingly they are called adjustable and fixed mortgages. The fixed mortgage is one where the interest rate is fixed and the person has to pay the amount over a period of the number of years the mortgage decides. The period can vary from anything from 10 to 30 years.

For adjustable mortgages the rate fluctuates and it is determined by the trend of the market. The interest rates depend on factors such as the demand and supply chain, the inflation of the place and on the lender. The mortgages purchased from the Suntrust usually fetch a discount on the market rate. For example on a $200,000 mortgage, with $50,000 down payment, the company charges a 30 year mortgage at 3.875% which is inclusive of the .250% discount. The Suntrust current mortgage rates are cheaper than that of the entire market and the so are the services.

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