Bank of America Refinance Mortgage Rates – Weekend Home Loan Interest Rates Up to November Highs at 4.4%
Posted on | November 20, 2010 | No Comments
Over the last two weeks we have seen 30 year fixed mortgage rates move up from 4% to 4.4%. This weekend we are seeing Bank of America refinance mortgage rates at November highs around this 4.4% mark. With weekend home loan interest rates moving up it will be very interesting to see if homeowners are still looking to refinance as we head into Thanksgiving and Christmas holiday shopping season.
Millions of Americans have had the opportunity to refinance to low interest rates over the last several months but it is important to recognize that lenders are being very strict with their practices as it takes a very good credit score and a low debt to income ratio to gain access to these low rates. When looking for today’s lowest mortgage interest rates remember that customers will need a great credit history to receive attractive offers.
Taking the time and effort to do research online could prove to be greatly beneficial to homeowners as there are many options available. Bank of America is currently the largest mortgage lender but they are definitely not the only option when it comes to locking in the lowest home loan interest rates. There are many local and regional lenders that can help provide great customer service and low interest-rate offers as well.
As the Federal Reserve Bank continues to work very hard to keep interest rates low it will be interesting to see how the overall market reacts to the 10 year treasury rate yield moving higher. Over the last few weeks we have seen the 10 year yield move up from 2.5% to 2.9% which is one of the main reasons we have seen 30 year fixed mortgage rates move up as well.
As the 10 year treasury rate yield goes so go 30 year fixed mortgage rate. If the 10 year yield continues to increase it will likely be the case that we see 30 year fixed mortgage rates at 4.5% before we know it. It could be the case that 30 year rates move all the way up to 5% but the Fed may take action before this happens.
Author: Alan Lake
Tags: bank of america home loans > bank of america mortgage rates > bank of america refinance > bank of america weekend rates > home loan interest rates > weekend home loan rates
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