Current Mortgage Rates: Bank of America (NYSE:BAC) Refinance Rates Remain Stable
Despite the fact that during last week loan interest rates were slightly higher, both home purchase and refinance mortgage activity increased according to the Mortgage Bankers Association.
This week refinance rates are slightly lower and Bank of America (NYSE:BAC) is one of the major player, that continues to offer mortgage packages that hover near all-time records lows. In case of the popular 30-year FRM refinance package, customers can obtain it today for as low as 4.250% and an APR yielding to 4.393%.
On the other hand, the shorter 15-year fixed refinance loan could be a solution for those who are looking to clear off a significant amount of money on their existing loans, as this deal can be locked in and taken home today at a rate of 3.500% and an APR variable of 3.728%.
Moving on to the very best refinance deals today, Bank of America advertises the flexible 7/1 ARM package for as low as 3.250% and an annual percentage of 3.462%. The 5-year adjustable rate mortgage retained its strength as well and available today at a rate of 2.875% and an APR of 3.345%.
The current run of exceptionally low refinance rates are set to continue according to financial analysts, which is good news for those borrowers who are struggling with their refinance loans, as they can take avantage of this situation and clear off some serious money on their balances.
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