Bank of America Refinance Mortgage Rates – 4.75% 30 Year Fixed Home Loan Rates on January 24
Posted on | January 24, 2011 | No Comments
Bank of America refinance mortgage rates have been quite stable in 2011 as we have seen that 30 year fixed between 4.55% and 4.75% for the entire month of January. At the present time we are seeing 30 year fixed home loan interest rates at the top end of this range at 4.75% on January 24, 2011.
Remember that this mortgage interest rate quote is likely only available to the best borrowers. By having a credit score that is extremely attractive and a low debt to income ratio below 40% there many homeowners who could save quite a bit of extra cash by going to the refinance process in January or February of 2011.
Unfortunately, many Americans have found that their credit score has dropped over the last several months and years as the overall economy continues to struggle. The unemployment rate is still above 9% and many Americans are seeking employment while exhausting their unemployment benefits. This makes it very hard to pay bills which in turn will likely decrease a credit score.
As we get deeper and deeper into 2011 and will be very interesting to see what happens with 30 year fixed mortgage rates. Many feel that as the economy improves the 30 year fixed mortgage will start to move much higher. The federal reserve bank is taken every necessary step to keep interest rates low over the last several years but that could drastically change when the unemployment rate drops and the economy improves.
Remember that there are multiple mortgage lenders that offer great opportunities to save money during the low interest rate environment. While Bank of America is one of the largest mortgage lenders in the nation and is important to recognize that there are local, regional and national lenders that offer amazing customer service to go along with low interest rate offers.
Author: Alan Lake
Tags: 30 year fixed home loans > 30 Year Fixed Mortgage Rates > bank of america home loans > bank of america interest rates > bank of america refinance > bank of america refinance rates > home loan interest rates
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