Bank of America Refinance Mortgage Rates – Home Loans Up on March 15
Posted on | March 16, 2010 | No Comments
Bank of America refinance mortgage rates have been very low for much of 2010. On March 15th we are seeing home loans higher as the 10 year treasury rate yield is sitting on its 50 day moving average. Both the 50 day moving average and 200 day moving average are uptrending for the 10 year yield which could mean higher mortgage rates ahead.
Over the last year the 10 year treasury rate yield has carved out an uptrend which has push the overall yield to as high as 4%. At the present time we are seeing the 10 year yield at 3.7% but there could be another leg higher in the very near future. With this being the case higher mortgage rates could be coming.
Bank of America and most mortgage lenders have benefited greatly from the current low interest-rate environment. These lenders have taken in new customers as many Americans are looking to refinance to a lower mortgage interest rate. The homeowners are greatly benefiting by having a lower monthly payment on their mortgage.
If we continue to see an upturn in the 10 year treasury rate yield you can expect that mortgage rates will start to move higher. The Federal Reserve Bank is also going to stop purchasing mortgage-backed securities at the end of the month. These two factors could be just what it takes to push mortgage rates above 5%.
Author: Alan Lake
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