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Bank of America Refinance Mortgage Rates – 4.6% is the All Time Low

Posted on | November 12, 2009 | No Comments

Bank of America refinance mortgage rates have been extremely low over the last few months. Since the beginning of September we have seen mortgage rates below 5%. The all-time low for mortgage rates is 4.6%. This all-time low is for a week long. So please understand that a one-day event below 4.6% is not a new all-time low.

Late last week we saw mortgage rates as low as 4.69% and earlier this week we have seen mortgage rates as low as 4.7%. This is something that should be very attractive to anyone who wants to refinance your current home loan.  Getting a mortgage rate this low there’s a good chance you could save several hundred dollars a month on your mortgage payment. This could end up helping you greatly make payments on other bills that you may have.

Bank of America and many mortgage lenders have advertised very hard since mortgage rates have dropped. Since receiving funds from the government Bank of America has done everything in their power to gain new customers. Any time you do a search for banking or mortgage on the Internet you’re likely to find that there are Bank of America advertisements all over the place.

It is unknown if these marketing efforts will greatly help Bank of America but they are at least trying. Not only does Bank of America wants you to use them for your mortgage but they also want you to use them for any other banking needs you may have. If they can get you in their doors to help you apply for a mortgage they may also be able to help you with your personal finances.

Overall it will be very interesting to see if the marketing efforts of Bank of America helped them over the long term. There is no doubt that they need to help their balance sheet is much as possible to attract investors. Their stock has taken a huge hit and they need to find a way to attract investors to sink money into their banking beliefs.

Please make sure to return to Subprime Blogger for all your mortgage and financial news. To stay up to date on the current state of finances make sure to bookmark the current news category below.

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Author: Alan Lake

Category: bank of america mortgage rates

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