Mortgage Rates Today: Bank of America Refinance Rates Hover near Record Lows
Bank of America (NYSE:BAC) refinance mortgage rates retained their strength throughout the week and now they are once again close to record low levels. As other major US lenders, like Wells Fargo (NYSE:WFC) or PNC Bank (NYSE:PNC), Bank of America tries to attract more borrowers with its refinance packages and encourage them to potentially save thousands of dollars on their existing loans terms.
Today at Bank of America, the 30-year fixed term deal for refinancing is beginning at a rate of 4.125 and an APR variable of 4.315%. Those who are looking for the shorter option, the 15-year fixed loan package can see balances cleared off for 3.375% and an annual percentage rate of 3.704%.
The 7/1 adjustable rate mortgage is available at Bank of America today for as low as 3.125% and an APR variable of 3.469%, while the 5/1 ARM deals are up for grabs for 2.750 and carries an APR of 3.335%.
Although, it’s difficult to predict how the rates will change in the near future, the current deals definitely carry some incredible value for money and it’s almost impossible to make a poor decision at the moment regarding the current refinance packages.
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