Bank of America Home Loans – Refinance Mortgage Rates at All Time Low on June 25th, 2010
Posted on | June 25, 2010 | Comments Off
Bank of America home loans have been at very attractive levels for quite some time but we are currently seeing refinance mortgage rates at all time lows on June 25th, 2010. For the first time in decades the 30 year fixed mortgage rate is below 4.5%; many Americans can take advantage of lower rates.
With 30 year fixed refinance rates well below 5% many Americans may be able to lock in to a lower mortgage interest rate which in turn would greatly assist them in lower monthly payments. With Americans struggling with debt it would be a great help to see a lower monthly mortgage payment.
Before making the assumption that all homeowners will qualify for rates this low it is extremely important to understand that you must have a sufficient amount of home equity and a credit score above 740 to have any chance to lock in to rates under 5%. If you do not meet these requirements you will likely find higher rate offers.
Even if you cannot gain access to the lowest possible mortgage interest rates it does not mean that you cannot benefit from the low interest rate environment. Take the time and effort to do your research and you could find that you have the ability to lock in to a mortgage rate that is attractive to you.
Author: Mike Garner
Tags: bank of america home loans > bank of america mortgage > bank of america mortgage rates > bank of america refinance > home loan rates > mortgage interest rates > mortgage rates > mortgage refinance rates