Bank of America Homes Loans Poised to Move Higher in April 2010

Posted on | March 29, 2010 | No Comments

Bank of America home loans have been at or below 5% for much of 2010 but that is likely to chance in late March and early April 2010.  The Federal Reserve Bank plans to stop purchasing mortgage backed securities and the 10 year treasury rate yield looks to be in a very strong uptrend.


Most banks, including Bank of America, benefitted greatly from the low interest rate environment but that could be coming to an end very soon.  It will not be a surprise to see 30 year fixed mortgage rates move well above 5% in the very near future.  Some analysts have predicted mortgage interest rates as high as 7.5%.

Only time will tell how high mortgage interest rates will go but it sure seems that Bank of America home loans are going to move up.  It would be wise to take advantage of low rates now before the first leg higher truly starts for the 30 year fixed mortgage rate.  You may have missed an opportunity if you continue to wait.

Author: Alan Lake

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