Bank of America Refinance Mortgage Rates Low for 30 and 15 Year FRM’s
Regardless of the fact that the lowest recorded mortgage rates in the past 60 years have indeed been confined to the past themselves, Bank of America (NYSE:BAC) and many other major lenders are today offering excellent value refinance agreements which have the potential to save millions of homeowners thousands of dollars on their current terms.
Focusing first on some of the most popular packages offered by Bank of America this morning, 30 year fixed term contracts can be locked in for a rate of 4.375% and APR amounting to 4.600%, while the 15 year deal on the other hand is being advertised for 3.750% and an APR figure amounting to 4.159%.
In the case of the adjustable rate packages this Thursday, excellent value can be found in the 7/1 ARM for refinances which is now at 3.250% and APR of 3.394%, while the 5/1 ARM on the other hand can be taken home for 3.000% and APR of 3.291% variable.
Exactly how much longer the excellent deals for refinance loans can possibly last remains very much open to debate, but with national and international resolutions expected imminently regarding economic concerns, the only way from here on in is indeed up.
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