Bank of America Refinance Mortgage Rates – 30 Year Fixed at 4.8%
Posted on | October 14, 2009 | 2 Comments
Bank of America refinance mortgage rates are going against the 10 year treasury rate yield today and falling to new lows. The conventional 30 year fixed rate mortgage is at 4.8%. Earlier this morning we saw the 30 year fixed at a multi month low of 4.69%; this was done in very light volume but still impressive nonetheless especially the treasury yields moving higher.
UPDATE: Bank of America mortgage rates are back up to 5% early on Thursday, October 15th to read more please check out Mortgage Interest Rates October 15 – 30 Year Fixed Up Today
Early today we are seeing that the 10 year treasury rate yield is testing its 50 day moving average at 3.44%. WIth the treasury yield moving up to this level one would think that mortgage rates would follow suit and move up as well. This has not been the case at all today as mortgage rates have been much lower since very early this morning. The low levels of 4.69% did not hold but we are still much lower on the day.
Bank of America has done a great job or promoting their home loan division by increasing their marketing efforts. The amount of advertising they are doing is quite amazing when it comes to their competitors. With mortgage interest rates getting close to all time loans it would seem that Bank of America has a great chance at benefitting from this new marketing plan.
Citigroup reports earnings tomorrow while Bank of America reports earnings on Friday. It will be very interesting to see the different commentary of these companies. There is very little doubt that Citi is amping up their marketing efforts as well but it seems that it has not put forth the effort that bank of America has; especially when it comes to the mortgage and loan department.
With mortgage interest rates very close to all time lows now is the time for most American home owners to get out there and refinance their home loans. The question that many Bank of America investors have is “are these home owners going to use Bank of America for their home loan needs?” That question will get answered on Friday when Bank of America reports third quarter earnings.
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Author: Heather Best
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2 Responses to “Bank of America Refinance Mortgage Rates – 30 Year Fixed at 4.8%”
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October 14th, 2009 @ 11:41 am
[...] Bank of America Refinance Mortgage Rates – 30 Year Fixed at 4.8% [...]
October 16th, 2009 @ 8:59 am
Please contact me for 4.8 % fixed 30 year rate.
Thank You!