Bank of America Refinance Mortgage Rates – 30 Year Home Loans Stable as Existing Home Sales Jump in September

Posted on | October 25, 2010 | No Comments

Bank of America refinance mortgage rates remain very close to all-time lows as the 30 year fixed loan rate is around 4.25% for the best borrowers. In September, we saw existing home sales jump much more than expected at a rate of 10% from August. This is very impressive but unfortunately much of this was due to the first-time home buyer tax credit.


Now that the first-time home buyer tax credit is completely out of the system it will be interesting to see how home sales react. It could be the case that many first-time buyers sit on the sidelines waiting for more government incentives but unfortunately this may not happen. What the Christmas holiday season coming many people want to save as much money as possible.


With the overall economy still struggling at an unemployment rate of 9.6% many people are looking toward cyber Monday in black Friday as a way to save money on Christmas gifts. The number of people thinking about Best Buy Black Friday sales on computers and other like electronic items could reach an all-time high this year as savings is at the forefront of many people’s minds. With this being the case it should come as no surprise to see a growing number of homeowners looking to save money by going to the Bank of America refinance process with the currently low mortgage interest rates.

Author: Alan Lake

Comments