Tuesday Morning Mortgage Rates: Bank of America Continues Run of Excellent Refinance Packages
The start of a new month has brought about little to no change in the refinance mortgage rates being offered by Bank of America (NYSE:BAC), which considering the recent levels of value is certainly not a negative thing for potential borrowers. As it stands, millions of homeowners currently paying 6%+ mortgages across the US still stand to save hundreds of dollars every single month by switching to a more attractive package while the opportunity remains.
With regard to the most popular refinance packages being offered by Bank of America this Tuesday, the standard 30 year fixed rate deal can be locked in for 4.375% and APR of 4.584%, while 15 year deals are being advertised for 3.750% and an APR amounting to 4.111%.
For those who prefer to take their chances with adjustable deals, today sees the 7/1 ARM for refinances available for 3.375% and APR amounting to 3.447% variable, while the popular 5/1 ARM is now beginning at 3.125% and an APR of 3.329% variable.
As can clearly be seen, a great many of the most popular refinance packages are still hovering tantalizingly close to generation lows, though current mortgage payees are once again being reminded that the chances of any further significant declines are all but zero, therefore locking in a deal sooner rather than later could indeed prove in their very best interests.
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