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Bank of America Refinance Mortgage Rates – Rates Drop Further Today

Posted on | November 8, 2009 | No Comments

Bank of America refinance mortgage rates continue to drop to new lows.  Over the weekend we have seen the conventional 30 year fixed mortgage as low as 4.73%.  The movements on the weekend are to be taken with a grain of salt as all financial markets are closed and most financial institutions are closed.  Refinancing today could be a way that many home owners could save quite a bit of money.

Bank of America has done a great job of marketing their home loan department.  Every time you do a search for anything mortgage rate related there are Bank of America home loan opportunities clearly available.  The amount of money they have spent on marketing is, most likely, quite high but with mortgage interest rates being so low it might work out well in the long run.

In a tough economy one of the best things a company can do is to increase their marketing so they also increase the number of new customers.  At this point Bank of America is working diligently to offer new customer low mortgage rates.  If you have the opportunity to lock in to a low mortgage rate, possibly under 5%, it would be advisable to do it as soon as possible.

The Federal Reserve Bank is going to eventually take their hand out of the pot when it comes to interest rates.  At the current time the Fed is continuing to buy mortgage backed securities but they have stopped purchasing US Treasuries.  By concluding their purchases of US Treasuries there is a good chance that we are going to see treasury yields increase which would cause mortgage rates to increase.

If you have been on the fence when it comes to refinance it might be time to jump off that fence and get on the ball.  WIth mortgage interest rates below 4.75% now is the time to take action and lock in a low mortgage rate.  Bank of America and many other lenders are advertising low mortgage rates so make sure to contact them and take the necessary steps.

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Author: Jesse Wojdylo

Category: bank of america mortgage rates

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