Current Mortgage Rates: Bank of America Home Purchase Rates Holding Firm
Bank of America (NYSE:BAC) maintains the current good run of their mortgage loans coming to the new year, as the long term fixed home purchase deals are still available at decent rates.
While home purchase loan rates at Bank of America are holding firm, other major lenders like KeyBank (NYSE:KEY) and TD Bank (NYSE:TD) have slightly increased their purchase rates since yesterday.
For instance, the 30-year FRM loan package is advertised at Bank of America today for as low as 4.000% and an APR 4.151%. This option carries 1 discount point. With regard to the 15-year fixed loan, it can be locked in and taken out today for as low as 3.250% and an APR amounting to 3.551%. The 15-year fixed package has 1.250 discount points.
Home purchase rates at Chase (NYSE:JPM) nearly remain unchanged since yesterday, as the 30-year fixed rate mortgage deals are up for grabs at a rate of 3.875% and an APR of 4.034%, clearly a striking deal for those who are looking to invest in a new or used home.
Today KeyBank raised the interest rates of their FRM packages for new or used home purchases. The 30-year fixed package is now being offered at a rate of 4.125% and carries an APR of 4.176%. This would mean around $848.14 monthly payment in average. Those who are looking for the 15-year fixed option, it’s now available for as low as 3.430% and an APR yielding to 3.521%. In this case, the monthly loan installment would be around $1,245.04.
As far as TD Bank’s 30-year home loans are concerned, the rates slightly increased since yesterday, as the package can be picked up now at a rate of 4.110% and an APR amounting to 4.163%. The shorter, 15-year fixed rate mortgage can be locked in and taken home for as low as 3.285% and an annual percentage rate of 3.378%.
Mortgages rates continue their fantastic run nationwide and breaking all-time record lows week by week. Those who take advantage of the current situation can definitely get an amazing value for their money.
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