Bank of America Refinance Mortgage Rates – December 11 Weekend Home Loans at 4.75% for Good Credit Borrowers
Posted on | December 11, 2010 | No Comments
It is very hard to believe that 30 year fixed mortgage rates have moved from 4% to 4.75% and a little over one month. At the beginning of November we saw Bank of America refinance mortgage rate at 4.0% but that has greatly changed as the 10 year treasury rate yield has moved much higher over the last five weeks.
When looking at December 11 weekend home loan interest rates is quite obvious that the 30 year fixed mortgage has moved up drastically but this does not mean that they are not opportunities to save by going to the refinance process. The general rule of thumb for all homeowners to save at least one full percentage point to fully benefit from the refinance process at any time of the year.
This one full percentage point gain will most likely cover closing costs which can help homeowners see savings more quickly. Without saving one full percentage point it is often true that homeowners will see closing costs outweigh benefits which will not only waste time but it will also waste money.
As we get closer and closer to 2011 and will be the case that millions of Americans consider refinancing home loan to save money in the new year. It is generally the case that millions of Americans create new years resolutions related to personal finances. With this being the case mortgage refinance activity usually picks up in January and February.
No one truly knows where mortgage rates are headed over the next several months but the economy will likely be a strong predictor. The overall economy continues to recover that it is highly likely that we will see 30 year fixed mortgage rates continue higher as the 10 year treasury rate yield will move up as well. It should come as no surprise to see 30 year fixed rates above 5% in the near future.
Author: Alan Lake
Tags: bank of america home loans > bank of america mortgage rates > bank of america refinance > december home loan rates > home loan interest rates > home loan mortgage interest rates
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