Midweek Mortgage Rates: Refinance Deals Showing Little Movement at Bank of America
With predictions across the board pointing to imminent hikes in mortgage rates almost on a daily basis, Bank of America (NYSE:BAC) is today among countless US lenders displaying the exact opposite. As it currently stands, the deals and packages being offered by Bank of America for refinances are among some of the very best seen in recent years, adding up to a goldmine of opportunity for those looking for an alternative to their current high-rate mortgages.
In the case of the very best refinance deals being offered by Bank of America today, the standard 30 year fixed rate mortgage can be taken out for 4.250% and an APR amounting to 4.460%, while the popular 15 year fixed rate refinance loan can be taken out for 3.750% and APR of 4.097%.
If adjustable rate deals seem to fit the bill better, the 7/1 ARM for refinances is today being offered at a starting rate of 3.125% and APR of 3.411% variable, while the 5/1 ARM on the other hand can be taken home for an attractive 3.000% to start and APR of 3.361%.
As can be seen across all of the above examples, the potential for truly enormous savings is huge to say the least, though whether this proves enough to motivate significant numbers of borrowers from the sidelines remains to be seen to say the least.
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