Bank of America Refinance Mortgage Rates – Home Loans Up in March?
Posted on | February 25, 2010 | No Comments
Bank of America refinance mortgage rates have been near all-time lows for a significant period of time. For the entire month of February we have seen 30 year fixed mortgage rates between 4.7% and 5%. Many people are wondering if Bank of America home loans are set to move up in March.
Unfortunately, there is a very good chance that mortgage interest rates could start moving up in the near future. By the end of March the Federal Reserve Bank plans to stop purchasing mortgage-backed securities which could push mortgage rates up at least one full percentage point.
Another factor that may push mortgage rates higher is the fact that the 10 year treasury rate yield is uptrending. Both the 50 day moving average and the 200 day moving average are moving higher which is a sign of a bull market in the 10 year treasury rate yield.
Bank of America and most mortgage lenders have advertised very hard during the current low interest rate environment. Most of these banks are probably benefitting by gaining new customers. It will be very interesting to see if Bank of America and these other banks continue to advertise mortgage rates when they start to move higher.
Author: Mike Garner
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