Current Mortgage Rates: Bank of America (NYSE:BAC) Home Purchase Deals off to a Strong Start
Major US lenders can expect a fierce competition for customers in the nearest future, as low morgages rates continue their great run coming to 2012. One of the biggest player among US lenders, Bank of America (NYSE:BAC) today offers some cracking opportunities for those who are either looking to invest in a new or used home or wants to clear off some serious money on their existing loans.
As far as the home purchase morgages are concerned, today Bank of America advertises the popular 30-year FRM deal for as low as 4.125% and an APR variable of 4.266%. In case of the 15-year fixed rate package, borrowers can obtain it at a rate of 3.375% and an APR amounting to 3.677%.
Compared to last week, Bank of America’s mortgage rates retained their strength coming to the new week, which is a good news for borrowers who are looking for some superb loan packages. In order to obtain these low mortgage rates, it’s necessary for borrowers to have an excellent credit history.
Moving on to the more flexible loan packages for home purchases, the 7/1 adjustable rate mortgage can be picked up today at a rate of 3.375% and an annual percentage rate of 3.578%. The 5-year ARM package seems to remains consumer friendly as well, as it’s available today for as low as 2.875% and carries an APR of 3.578%.
This year looks to be another good opportunity for those who are looking to buy or refinance a home. Since the current level of mortgage rates are favorable to say the least, those who take advantage of the situation can get some incredible bargains.
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