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Bank of America Refinance Mortgage Rates – Lower Rates Ahead?

Posted on | November 15, 2009 | 3 Comments

Bank of America refinance mortgage rates are getting very close to all-time lows.  Many homeowners want to know if lower mortgage rates are ahead. No one knows where mortgage rates are going to go from here but there is a chance that we could see drops to all-time lows in the very near future.

The 30 year fixed mortgage interest rate is currently at 4.66% which is just .05% above the all-time low that happened back in March of 2009. The low that occurred back in March was an average for an entire week so a dip below this for a one-day period would not constitute an all-time low. With that being said mortgage interest rates are still very attractive to any homeowner or future homeowner.

Bank of America has done a great job of marketing their home loan division. It is highly likely that you have seen ads all over the Internet and television for Bank of America home loans. Any time you do a financial search on the Internet or you watch a financial network on TV you are likely to see Bank of America advertisements.

It will be very interesting to see what happens with this marketing plan that Bank of America has used. There is no doubt that many people are seeing that Bank of America is attempting to increase their customer base. The problem Bank of America has always had is that when they do get these customers they do not treat them on a personal level. Will Bank of America change this and offer some of the better customer service in the lending industry?

We will find the answers to these questions very soon as the earnings are reported by Bank of America should greatly reflect if this marketing plan is working. With that being said, mortgage interest rates are very close to all-time lows in if you can benefit from a home refinance there’s no reason you should not get out there and actually test the waters.

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Author: Mike Garner

Category: bank of america mortgage rates

Comments

3 Responses to “Bank of America Refinance Mortgage Rates – Lower Rates Ahead?”

  1. Cindy
    November 16th, 2009 @ 1:12 am

    Unfortunately, I have a mortgage with Bank of America (originally with Countrywide) and I have been trying to get BOA to work with me on a modification since April 09 when I was laid off. They are not helping at all and even after I submitted all the documents requested (several times) they are threatening to start foreclosure. I have cut our budget down to necessities only (no home phone, no tv, etc) and they still tell me to cut more. Where? As of 11/6/09 during a conference call with BOA and HOPE for Homeowners counselor, they still will not offer any help at all. We are going to lose our home. Great for our 9 yr old son at Christmas, huh? Good luck to any others in our situation. Any suggestions or help would be appreciated.

  2. deryll
    November 16th, 2009 @ 8:11 am

    this is a recurring problem with Bank of America. I have amortgage with BOFA who just brough it from a different company. I have try to modify this mortgage with no results. BofA says that i own 2 months in the rear. i was told that i would have to be current in my payments. before they would even look at my mortgage. So i am senting one months in at advance and asking if they can put the other at the end of the mortgage. this way on they books i will be even. and maybe i can modifiy my mortgage to a rate that i can live with without eating cat food.
    Oh, WHAT WAS THAT GOVERNMENTS BAIL OUT. WAS THAT NOT TO HELP US KEPT OUR HOMES.

  3. Jackie Sims
    November 16th, 2009 @ 2:08 pm

    I know what yall are talking about. My oldest son has gone through a severe hardship and when we talked with BOA they said they could work it out to bring him current and lower his payment with him and he would have to terms by NOV 8. he even cleaned out his IRA to the tune of $10,000 and gave to them over this past year. On NOV 4th they sent notice of foreclosure to him. I guess the $$$$$$$$$$$ the federal government gave to them to help people stay in their homes was used for their Christmas party and bonuses. Like you he may be able to stay in his house through Christmas but be out by the NEW Year.
    My mortgage is with Wells Fargo and they bent over backwards to help me in my crisis and lowered my payment. Bank of America isn’t a Bank of America it is a selfish, greedy money grabber.

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