Current Mortgage Rates: Bank of America Home Purchase Rates Up Again
Mortgage rates were mixed tody among the major US lenders. While Bank of America (NYSE:BAC) and Chase (NYSE:JPM) raised their interest rates, KeyBank (NYSE:KEY), SunTrust (NYSE:STI) and US Bank (NYSE:USB) lowered them.
Bank of America offers the 30-year fixed rate mortgage deal today for 4.000% and an APR variable of 4.151%. The shorter 15-year packages are up for grabs at a rate of 3.250% and an APR of 3.551%.
In the case of the most popular adjustable rate mortgages, the 7/1 ARM loan is available at Bank of America for as low as 3.250% and carries an annual percentage rate of 3.462%. The 5-year AMR contract can be taken home for 2.750% and an APR yielding to 3.301%.
Moving on to the best refinance rates that Bank of America offers today, the 30-year FRM deal for refinance is available for as low as 4.250% and an APR variable of 4.403%. On the other hand, the 15-year fixed loan can be picked up at a rate of 3.500% and an APR of 3.747%.
For those who are interested in ARM loans, the 7-year ARM package for refinance is now starting at 3.500% and an APR amounting to 3.580%, while the 5/1 ARM deal can be locked in and taken home for 3.000% and an APR of 3.388%.
Considering that a vast array of mortgages being paid across the US at a rate of 6% and over, the current refinance rates at Bank of America are holding every potential for homeowners to save a massive amount of money on their existing loans.
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