Bank of America Mortgage Rates up Entering New Week
Following a l
ift in mortgage rates last week that saw Bank of America (NYSE:BAC) home purchase loans going under 4%, BAC enters the new week with a slight raise regarding mortgage interest rates.
Today Bank of America offers the 30-year fixed term purchase deal for 4.000% that carries an APR of 4.162%. The 15-year FMR is being offered now at a rate of 3.250% and an APR yielding to 3.514%. In fact, today’s rates are very similar to the ones that other major US banks like Wells Fargo (NYSE:WFC) and Chase (NYSE:JPM) advertise, among others.
If we take a look at the adjustable rate mortgage packages offered by Bank of America, we can see that today there’s a bit of upward movement regarding these deals as well. For instance, the 7/1 ARM can be picked up for 3.250% and an annual percentage rate of 3.462%, while the 5-year packages are up for grabs at a rate of 2.750% and an APR amounting to 3.311%. However, these packages are still seem to be quite attractive to say the least.
Those who are eyeing the best refinance deals today in order to save some serious money on their existing balance, BAC advertises the 30-year fixed package for as low as 4.250% and carrying an APR of 4.414%. The 15-year FMR package for refinance is available at a starting rate of 3.375% an an APR variable of 3.658%.
Coming to the ARMs for refinancing, the 7-year deal can be locked in and taken out today for as low as 3.500% and an annual percentage rate of 3.580%, while the 5/1 ARM offers an excellent value as it begins at a rate of 3.000% and an APR yielding to 3.388%.
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