Current Mortgage Rates at Bank of America Ahead of Competition
Bank of America (NYSE:BAC) heads into the weekend with some of the lowest 30 year fixed-rate mortgage rates available among the nation’s biggest lenders.
The 30 year fixed-rate loan is at 4.00% today with an APR of 4.186%. The loan carries 1.125 origination points. This compares to Wells Fargo is quoting 4.25% for this loan today.
15 year fixed-rate loans at Bank of America are 3.375% with 1.125 origination points and an APR of 3.705%. These shorter-term mortgages are popular as mortgage rates continue to decline. 20 year fixed-rate loans are at 3.875% today with 0.875 points and an APR of 4.103%. 20 year mortgages are also on the rise as a compromise between the standard 30 year mortgages can really short-term deals like ten-year loans.
Adjustable-rate mortgages at Bank of America, start at 2.75% for five-year ARMs, 3.00% for seven-year ARMs and 3.75% for ten-year ARMs.
While Bank of America is currently offering the best mortgage rates, of the four largest lenders, PNC Bank is actually beating Bank of America in the 30 year fixed category by offering 3.875% today for the loan.
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