Bank of America Home Loans – Refinance Mortgage Rates Move Above 4.5% on July 20, 2010
Posted on | July 20, 2010 | Comments Off
Bank of America home loans have been at or below 4.5% for the 30 year fixed mortgage for quite some time. Today we are seeing the 30 year fixed jumps slightly above 4.5% as many sources are quoting 30 year fixed with an average around 4.55%. Even though mortgage rates are up there still are very attractive levels to most buyers.
It is very important to remember that refinance mortgage rates are available under 5% but only to those borrowers with a credit score above 740 and a very low debt to income ratio. If you do not have these requirements you will find it extremely difficult to lock in low bank of America refinance mortgage rates today.
While Bank of America’s biggest mortgage lender in the country it is very important to remember that there are many other options available. By doing your research online you will likely find that there are mortgage lenders in your area that can help you lock into low refinance rates in the very near future.
It would be a very smart decision to exhaust your resources before making any final decisions. With the mortgage industry being extremely competitive there is no reason that many lenders can not compete for your business.
Author: Alan Lake
Tags: bank of america > bank of america home loans > bank of america mortgage rates > bank of america refinance > home loan mortgage rates > home loan rates > mortgage rates > refinance mortgage rates