Mortgage Rates Today: Record Lows May be Off the Cards at Bank of America
Contrary to talk of all time record low mortgage rates once again being seen in the imminent future, Bank of America (NYSE:BAC) refinance deals and indeed those of many other US lenders have today seen minor fluctuations in the less desirable directions. Such serves as yet another reminder of just how dependant US mortgage rates are on the current conditions in the Eurozone, with predictability really never coming into question as a realistic possibility.
First looking at some of the more notable fixed rate loans on offer today, Thursday sees the 30 year refinance package being advertised for a rate of 4.250% and APR of 4.467%, while those looking into the 15 year options can lock in the deal at a rate of 3.750% and APR of 4.093%.
Minor fluctuations have done little to halt the excellent value being offered by way of today’s adjustable refinance rates, with the 7/1 ARM now being advertised with a starting rate of 3.125% and an APR of 3.380% variable, while shorter 5/1 ARM agreements now carry an opening rate of 3.000% and yield an APR of 3.350% variable.
As can clearly be seen, the fact that record lows may be off the cards in no way suggested that excellent deals are not still to be had, as compared with the millions of higher rate mortgages currently being paid across the US, many of the above examples add up to a potential goldmine of savings.
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