Current Mortgage Rates: Bank of America 30-year FRM Home Purchase Loan under 4%
Today Bank of America (NYSE:BAC) advertises the 30-year fixed rate mortgage package for home purchase under 4%. This is good news for those who are looking to buy a new or used home, as such low mortgage rates haven’t seen in generations.
Apart from Bank of America other major US lenders like Wells Fargo (NYSE:WFC), Chase (NYSE:JPM) and SunTrust (NYSE:STI) among others, are also offering the said mortgage loan around 4% and under.
Coming back to Bank of America, the 30-year fixed rate package for home purchase can be locked in and taken out for as low as 3.875% and an APR of 4.046%. The mortgage rate regarding the 15-year fixed deal hasn’t really changed in the last couple of days, as BAC still offers it for 3.250% and an APR variable of 3.514%.
For those who are preferring the adjustable rate mortgages and therefore start with lower initial monthly payments, may consider today’s AMR deals at Bank of America. The 7/1 ARM is now being offered at a rate of 3.250% and an annual percentage rate of 3.472%. On the other hand, the shorter 5-year AMR can be picked up for 2.750% and an APR amounting to 3.311%.
Bank of America’s current refinance packages could be good solution for customers who want to clear off some money on their existing loans. Although, these days refinance rates are holding firm, these deals are still offering a striking value for money for those who are willing to take the plunge.
The 30-year fixed rate package for refinance can be taken home at a rate of 4.250% and an APR yielding to 4.393%. The 15-year FRM may be a great alternative, as BAC now lowered its rate and advertises it for as low as 3.375% and an APR variable of 3.639%.
The 7/1 ARM packages are up for grabs for 3.500% and an APR of 3.580%, while the 5-year adjustable rate mortgage carries a rate of 3.000% and an APR amounting to 3.398%.
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