Mortgage Rates Today: Refinance Rates Hold Steady at Bank of America
Today sees Bank of America (NYSE:BAC) offering some quite incredibly attractive remortgage deals, with the potential to save a small army of Americans tens of thousands on their current terms. Such deals are common across many lenders today and have resulted in a surge of over 11% in refinance applications in the last week alone.
For those looking to lock in the current rates by way of a fixed term deal, 30 year contracts are today being offered for 4.125% with an APR of 4.303%, while the 15 year alternative is today at 3.625% with an APR of 3.958%.
With regard to flexible agreements, the 7/1 ARM term for refinancing is today being advertised for 3.250% with an APR of 3.377%, while the 5/1 ARM alternative is at 3.125% with an APR of 3.319%.
There have been signs this week that the level of interest consumers have in refinance options is once again on the rise and may continue to soar over the coming weeks, though sadly the same can not be said for new purchase activity, which has continued at dangerously sluggish levels.
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