Bank of America Refinance Mortgage Rates – Home Loans Calculate to Savings for Rates Under 4.75% Today
Posted on | May 21, 2010 | Comments Off
Bank of America refinance mortgages continue to drop as the 10 year treasury rate yield has moved lower. Home loans calculate the great savings for those who can refinance under 4.75%. It is very important to note that not all homeowners will be able to receive an interest rate offered this low.
To receive the Bank of America refinance rate below 5% you will need a significant amount of equity in your home and a credit score above 740. Without these requirements you will likely find higher interest-rate offers which in turn will not calculate to as much in savings.
Over the last several months many Americans have had the opportunity to lock into a much lower mortgage interest rate. By being a good borrower of money you could end up saving hundreds of dollars a month on your monthly mortgage payment which in turn could help you to get out of debt in other ways.
There’s little argument to be made that many Americans are struggling with credit card debt and loan debts. This is on top of a mortgage payment which can also be a huge struggle. With this in mind it may be wise to consider refinancing your current mortgage interest rate.
Author: Alan Lake
Tags: bank of america home loans > bank of america mortgage rates > bank of america rates > bank of america refinance > bank of america refinance rates > home loan rates > home loans