Mortgage Rates Today: All Time National Lows Keep Bank of America Refinances Down
Mortgage rates across the US once again broke recently set records by reaching new record lows last week, with a number of subsequent minor rises resulting in Bank of American (NYSE:BAC)and countless other major lenders continuing to offer excellent packages this Monday. As such, there is still ample time to secure a profitable refinancing deal, offering the potential to save thousands on current terms,
For those looking t refinance by way of the standard 30 year fixed term loan, rates are being advertised today at 4.375% with an APR of 4.582%, while the highly profitable 15 year fixed term deal for refinances is at 3.750% and a resulting APR of 4.131%.
With regard to the flexible terms on offer today, options include the 7/1 ARM with an attractive opening rate of 3.375% and an APR of 3.430%, while the 5/1 ARM can be taken out starting from 3.125% and an APR of 3.323%.
It appears more than probably that the coming days of the early week will bring about continued minor increases across national average rates, though for those willing to emerge from the sidelines and lock in a deal now, there is still every opportunity to seal an incredible value deal.
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