Mortgage Rates Today: Bank of America Climbing Interest Rates
As we move ever closer toward the middle stages of the week, home purchase deals are showing very little movement at Bank of America (NYSE:BAC). Of course, given the fact that many the deals seen this week have been some of the best in years, this is in no way a negative thing, though the all time lows of the past couple of weeks seem well and truly confined to history.
With regard to the most popular home purchase packages, Wednesday sees the 30 year fixed term deal being offered for 4.125% and a resulting APR of 4.320%, while the equally popular 15 year fixed rate purchase contract can be taken out for 3.375% and an APR of 3.717%.
Adjustable terms are also continuing to offer excellent value for money, with the 7/1 ARM being offered at a starting rate of 3.000% and an APR of 3.253%, while the 5/1 ARM can be taken on for 2.875% and an APR amounting to 3.204%.
With some of the lowest property prices seen in many years it would have been expected that a property boom was inevitable, but even with excellent purchase packages being offered to compliment the low prices, the market has remained quite dangerously sluggish at best.
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