Current Mortgage Rates: Bank of America (NYSE:BAC) Refinance Rates Today
Mortgage rates were holding steady throughout last week and remained near all-time record lows, according to Freddie Mac. This is good news for those potential borrowers who are thinking about refinancing their existing loans or purchasing a new or used home.
Coming to the new week, Bank of America (NYSE:BAC) kicked off Monday with some favourable refinance packages. Particularly the 30-year FRM loan package could be attractive for many, as it is available today at a rate of 4.375% and an annual percentage rate (APR) of 4.551%. In case of the 15-year fixed rate loan for refinance, borrowers can obtain it today for as low as 3.625% and an APR variable of 3.910%.
Adjustable rate mortgages (ARMs) at Bank of America are slightly higher today, as the 7/1 ARM package carries a rate of 3.750% and an APR amounting to 3.698%. This deal was available last week at a rate of 3.625%.
On the other hand, the shorter 5-year ARM deal can be picked up at Bank of America for a rate of 3.125% and an APR yielding to 3.432%.
According to financial analysts low mortgage rates are set to continue their good run in the next couple of months which could provide another opportunity for those who didn’t take advantage of the current favourable refinance options.
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