Bank of America Refinance Mortgage Rates – Home Loans Push Higher
Posted on | March 26, 2010 | No Comments
Bank of America refinance mortgage rates have been below the 5% mark since the year 2010 began but that could be changing in the very near future. Over the last two days we have seen home loans push higher as the 30 year fixed mortgage rate is right around 4.95%.
It will be very interesting to see how mortgage rates react in the month of April. There are many signs pointing to higher overall mortgage rates. The conclusion of the Federal Reserve Bank mortgage backed securities purchase program and the uptrend in the 10 year treasury rate yield point to higher mortgage rates.
Bank of America and most mortgage lenders have benefited greatly from the current low interest rate environment. It will be very interesting to see how these banks react when mortgage interest rates start to move up. Many analysts have predicted that we could see 30 year fixed mortgage rates around 6% in the very near future.
If you’ve been thinking of refinancing or buying a new home it would be wise to consider your options now. If you continue to wait you could end up looking at 6% mortgage rates when 5% mortgage rates were available just a few short months ago.
Author: Heather Best
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