Mortgage Rates: Refinance Rates at Bank of America Still Near Record Lows
This week has once again presented millions of Americans with the opportunity to save a small fortune on their current mortgage terms, with Bank of America (NYSE:BAC) and many others continuing to advertise incredibly competitive refinance packages, some of which are still skirting around their all time lowest levels.
Looking first at the most popular options being advertised this Friday, the 30 year fixed term mortgage contract is now at 4.375% and an APR amounting to 4.605%, while those looking to clear their balances in 15 years can save hugely with an interest rate of 3.750% and APR of 4.111%.
Adjustable terms have also been following suit all week, with the 7/1 ARM today offering excellent value at 3.250% and a 3.379% APR, while the 5/1 ARM can be taken home for a starting rate of 3.000% and an APR amounting to 3.287%.
As can clearly be seen, the potential for millions of Americans to save quite enormously is well and truly there, but whether or not any in significant numbers will actually choose to do so is another story altogether.
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