Mortgage Rates Today: Strong Week of Refinance Packages Continue at Bank of America
Despite the fact that Bank of America (NYSE:BAC) and many other major US lenders are still offering astonishing deals for refinance agreements this weekend, the overall level of applications recorded is continuing to decline at a rather worrying rate. Nevertheless, for those willing to take a leap right now, there is still an extraordinary amount of money to be saved on existing mortgage terms.
As of today, 30 year fixed rate deals for refinance at Bank of America are available for 4.375% with an APR of 4.580%, while the popular 15 year term for fixed rate refinances is at 3.750% and an APR of 4.127%.
The 7/1 variable term can be taken out today beginning at 3.375% with an APR of 3.429%, while the 5/1 ARM is being advertised for 3.125% and a 3.321% APR.
There is of course still time for something of a turnaround in the market, but overall cuts in interest rates that would once have spur a rush of epic proportions seem to be doing little to impress the potential borrower of today.
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