Bank of America Refinance Mortgage Rates – Low Fixed Rates in California and Nevada
Posted on | January 28, 2010 | 1 Comment
Bank of America refinance mortgage rates have been quite stable for the entire month of January. We have seen the 30 year fixed mortgage rate in a tight range between 4.8% and 5% for the entire first month of the year. At the present time we continue to see low fixed rates in California and Nevada. The 30 year fixed is currently at 4.83% which remains very close to historic lows.
The exposure that Bank of America has in California and Nevada was greatly increased with the purchase of Countrywide. Countrywide was a huge player in the mortgage market in the western part of the United States and Bank of America gobbled them up during the subprime mortgage crisis. This made Bank of America the largest mortgage lender in the country.
Now that we are slowly getting over the subprime mortgage crisis many home owners are looking to refinance to a lower mortgage interest rate. Over the last year we have seen the 30 year fixed mortgage rate very close to an all time low. In fact, the all time low for the 30 year fixed rate was quoted in November when the 30 year fixed reached 4.49%. Since then we have seen rates slowly move higher but are still below 5%.
If you have been thinking about refinancing or buying your first home now is one of the best times to lock in to a low mortgage interest rates. With conventional 30 year fixed mortgage rates under 5% there is no reason that you should not consider doing research on submitting a mortgage application. You might get approved the a historically low mortgage rate.
Author: Jeremy North
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January 29th, 2010 @ 3:59 am
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