Wednesday Morning Mortgage Rates: Refinance Bargains Still to be Found at Bank of America
Despite the fact that even modesty attractive mortgage rates had been predicted as likely to expire long before now, Bank of America (NYSE:BAC) is among scored of major lenders offering quite incredible refinance packages today, of which some seem to have the all time record lows of last week firmly in their sights. Indeed, until full stability is returned to the European economy, borrowers can expect a turbulent market where record lows and considerable hikes are very much possible with each day that passes.
With regard to the most popular rates being offered by Bank of America today however, the standard 30 year fixed rate loan for refinance purposes is now at 4.250% and APR of 4.466%, while those looking for ways to clear their balances in 15 years can do exactly that for 3.750% and APR of 4.091%.
Adjustable terms for refinance of particularly worthy mention include the 7/1 ARM which can today be taken out for 3.250% and APR of 3.428%, while the shorter 5/1 ARM now begins at 3.000% and APR of 3.360%.
Of course, mortgage rates across the US could just as easily spike over the coming days and weeks as see further drops toward record lows, therefore borrowers are being advised once again to err on the side of caution and act sooner rather than later to avoid missing out.
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