Bank of America Refinance Mortgage Rates – Home Loans Lowest Levels in 2010 for 30 Year Fixed Rates
Posted on | August 27, 2010 | No Comments
Bank of America refinance mortgage rates have been at very low levels for quite some time but we are currently seeing home loans at their lowest levels of 2010 as the 30 year fixed mortgage is around 4.3%. Just last week we saw 30 year fixed rates around 4.25%. If the 10 year treasury rate yield continues to struggle it could continue to help keep mortgage rates low for an extended period of time.
It is very important for homeowners to understand that not all Americans can gain access to the lowest possible mortgage interest rates. It takes an impressive credit score and a very low debt to income ratio to have any opportunity to lock in to the lowest possible mortgage interest rates in August 2010.
Over the last several weeks it has been the case that almost 80% of total mortgage applications have been to refinance. Expect this to continue to be the case as many homeowners are looking to save and those who do not own a home are sitting on the sidelines and waiting for government incentives such as another first time home buyer tax credit.
Author: Alan Lake
Tags: bank of america home loans > bank of america mortgage > bank of america rates > bank of america refinance > mortgage rates > refinance loan rates > refinance mortgage rates > Refinance Rates
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