Bank of America Refinance Mortgage Rates – 30 Year Weekend Interest Rates at 4.7% for Home Loans
Posted on | January 21, 2011 | No Comments
Bank of America refinance mortgage rates have been quite attractive to many Americans looking to save money. Over the last several years we have seen 30 year fixed mortgage rates very close to all time lows. At the present time we are seeing 30 year fixed mortgage rates at 4.7% heading into the second to last weekend of January.
Before making any assumptions when it comes to refinancing to a low interest rate it is important to remember that it takes an amazing financial history to lock in to these low rates. With a debt to income ratio 40% or lower and a credit score above 740 many can save by refinancing during the last part of January.
There are many mortgage lenders throughout the nation so remember to check the competition. Even though Bank of America is the largest lender in the country it does not mean that they will work best for every financial situation. By doing research online some homeowners will find that local or regional lenders can offer great customer service along with low rates.
With the advancements in technology it is much easier than it has ever been to get information about low mortgage interest rates. Almost all lenders have a website and a live chat feature that will allow homeowners to get answer much more quickly than in the past. Some of these lenders also have a Twitter answering service that can help you to gain knowledge about the refinance process.
By simply doing a little bit of extra research some homeowners could end up saving hundreds of dollars a month on a mortgage payment. Remember there are closing costs involved in the refinance process so you will want to make sure to add those costs into the calculations. The general rule of thumb is that homeowners should desire to save at least one percentage point to cover closing costs.
Author: Alan Lake
Tags: 30 year interest rates > 30 Year Mortgage Rates > bank of america home loans > bank of america interest rates > bank of america mortgage rates > bank of america refinance
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