Mortgage Rates Today: Bank of America Low Refinance Rates a Veritable Goldmine
For those willing to take the plunge sooner rate than later and enter into a highly valuable new deal, Bank of America (NYSE:BAC) is once again today offering a plethora of refinance packages that are quite drastically lower than the millions of 6%+ loans currently being paid across the nation. Indeed, those making the most of the deals stands to save hundreds of dollars every month and a small fortune on their overall term as a whole.
First looking at the most popular packages for refinances being offered today, the 30 year fixed rate mortgage can be taken home for 4.250% and an APR of 4.438%, while the shorter 15 year term is being offered for 3.500% and an APR that amounts to 3.850%.
For borrowers who prefer the idea of adjustable terms, the 7/1 for refinance purposes can be procured with a starting rate of 3.125% and APR of 3.385% variable, while the shorter 5/1 ARM is now being advertised for 2.875% and 3.312% APR variable.
Regardless of the package chosen, the potential for considerable savings is all but 100% for literally millions of borrowers, though whether this will motivate significant numbers to actually make the switch once again remains to be seen.
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