Subprime Blogger

Your Mortgage News Source

Bank of America Mortgage Rates – Refinance in September?

Posted on | August 30, 2009 | 2 Comments

Bank of America mortgage rates are flirting with the 5% level as we get closer to September.  It is going to get very interesting with the refinance applications if we do see mortgage interest rates break below this key psychological level.  It is highly likely that we will see a plethora of mortgage refinance applications submitted when mortgage rates drop to ranges we haven’t seen since the beginning of April.  We can only hope that mortgage lenders are ready for this when it does happen.

Mortgage interest rates have been around this level several times since the beginning of April when we first saw mortgage rates move above the 5% mark.  Every single time rates get this low it seems that the 10 year treasury rate gets into bull market mode and moves up greatly.  We might see a dead cat bounce for the 10 year yield but the 50 day moving average is now moving downward and will serve as key resistance.

With the 50 day moving average working against the up trend of the 10 year yield, it is likely that treasury yields are going to move south.  If yields continue to move south, there is only one way Bank of America mortgage rates are going to go….DOWN!  It is definitely an exciting to see mortgage rates near the 5% level and the 10 year yield down trending.  If we are lucky, we might get to see average mortgage rates at new all time lows before the year ends.

No one is counting on this as the Federal Reserve Bank is going to slowly stop buying US Treasuries.  It might be the case that the Fed has so many treasuries on their books that there is no room for treasury yields to increase; only time will tell with this situation.  It is extremely hard to predict mortgage rates right now because the Government has played such a big part in keeping interest rates so low.  We can only hope that there is not a whiplash effect when the Fed finally takes their hand out of the pot.

With that being said, now is one of the best times in the history of the United States to refinance your home.  Lenders are actually lending money and mortgage interest rates are near all time lows.  There are many banks and lenders who are already advertising mortgage rates under 5% so it is your responsibility to get out there and get the lowest mortgage rate you possibly can.

Author: Heather Best

Category: bank of america mortgage rates
Tags:

Comments

2 Responses to “Bank of America Mortgage Rates – Refinance in September?”

  1. Thomas D Dowling
    August 30th, 2009 @ 6:48 pm

    Why is our government secretly moving OUR Money to the IMF?

    Where is OUR missing One Trillion point 200 Billion dollars?

    Did Timothy Geithner help Ben Bernanke embezzle our money?

    Why would “We the People” want to compromise or negotiate anything with Barney Frank concerning the complete audit of OUR Money?

    Does everybody “get it”?

    “The Fed Scam” is Truly Criminal and must be totally Abolished! This Money and all Interest belongs to “We the People”!

    America, do not be deceived!

    The only real financial crisis of the U.S.A. is hiding in the audit of “The Fed Scam”!

    Audit “The Fed Scam” bills HR 1207 must pass in The House and S 604 must pass in The Senate immediately! Any Representative or Senator that does not vote in favor of and support these bills or tries to “water-down” or stall these bills is clearly a Traitor and “Sold Out” the United States of America!

    “Few men have virtue to withstand the highest bidder.” –George Washington

    Does our government think that we are now here to serve them?

    Are they out of their minds?

    Some of our leaders today have acquired a very “twisted” view of their roles. Do we now have those who can no longer handle the power we entrusted them? Why have they abused and taken advantage of us? Do they no longer think they are accountable to us and believe they can do whatever they please? Our “public servants” have developed a “spirit of insubordination” and have gotten way out of control!

    This has to stop right now!

    This is ridiculous!

    Enough is Enough!

    “Congress can revoke central bank’s charter ‘at any time’” –Ron Paul

    http://www.tomdavidd.com/blog/

    Anybody who supports “The Fed Scam” is clearly a Traitor to “We the People” of the United States of America!

  2. Rich
    September 1st, 2009 @ 7:23 pm

    Whoa Thomas, relax and get back to reason for a minute. You sound like you’ve gotten all wound up around the axle. The bad guys are the corporate bastards accepting huge salaries and bonuses while we, that is you & I, can hardly barely buy their products. Are all the politicians you voted for crooks? Now how about the millionaire bankers and insurance and oil clowns? Are they the honest guys? If so you need to watch your backside pal. You are confused.

Leave a Reply





    • Subprime Blogger is Digg proof thanks to caching by WP Super Cache!