Current Mortgage Rates: Bank of America (NYSE:BAC) Purchase Rates Up

January 18, 2012 | Filed under: Finance | Posted by:

bank of america21 Current Mortgage Rates: Bank of America (NYSE:BAC) Purchase Rates UpAlthough, mortgage interest rates were mixed today across various US lenders, they are still hovering near all-time lows coming to midweek.

Namely Bank of America (NYSE:BAC) is one of the major lenders today which raised its rates today. The 30-year FRM package for home purchase is available today at a rate of 4.125% and an annual percentage rate (APR) of 4.288%. The 15-year home mortgage loan can be picked up for as low as 3.500% and an APR variable of 3.728%.

Although, these interest rates at Bank of America are higher now compared to yesterday, they still offer a striking value for those who decide to take advantage of the current market situation. Low mortgage rates combined with falling house prices could be enough temptation for many borrowers to secure some incredible bargains.

Bank of America advertises the adjustable rate mortgage (ARM) packages with slightly higher rates compared to Tuesday. For instance, the 7/1 adjustable rate mortgage can be locked in today and taken home at a rate of 3.500% and an APR amounting to 3.590%. In case of the shorter, 5/1 ARM package, customers can obtain it today at a rate of 3.125% and an APR yielding to 3.432%.

Looking at home loan conditions that others lenders are offering today, Wells Fargo seems to be holding out for 3.750% interest rate regarding the 30-year fixed rate deal, which looks to be a cracking option for those who are willing to take the plunge. On the other hand, the 15-year fixed rate deal can be secured at a rate of 3.125% and an APR amounting to 3.417%.

Moving on to the very best FHA packages, the 30-year fixed FHA mortgage is being advertised today at Wells Fargo for as low as 3.750% and carries an APR of 3.998%.

The 5-year ARM package seems to be holding firm, as it is still available at Wells Fargo at a rate of 2.125% and an APR of 3.102%.


Related posts:

  1. Current Mortgage Rates: Bank of America (NYSE:BAC) And Wells Fargo (NYSE:WFC) Home Purchase Rates Remain Solid
  2. Current Mortgage Rates: Bank of America (NYSE:BAC) Lowers 7-Year ARM Package, Wells Fargo (NYE:WFC) Home Purchase Rates Remain Firm
  3. Current Mortgage Rates: Bank of America (NYSE:BAC) Home Purchase Deals off to a Strong Start

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