Bank of America Refinance Mortgage Rates – Lowest Home Loans in January Were in the Early Part of the Month
Posted on | January 25, 2011 | No Comments
Bank of America refinance mortgage rates have been quite stable throughout most of January as a 30 year fixed rate has been between 4.55% and 4.75%. Unfortunately, it is the case that the lowest home loans in January likely came in the earliest part of the month as we saw 4.55% during the first few weeks. At the present time we are seeing 30 year fixed rates around 4.75%.
Even though mortgage interest rates have moved much higher over the last several months and is still the case that they are very attractive when looking at historical charts. Never before in the history of the United States housing market have we seen 30 year fixed mortgage rates well below 5% for such an extended period of time.
With this in mind it might be a very wise decision to take advantage of the lowest home loan interest rates available for a specific financial situation. Remember that it generally takes a very good credit score and a low debt to income ratio to have any opportunity to lock in to these low rates. If these requirements are not met then it is very difficult to qualify for refinance mortgage rates under 5%.
Bank of America continues to be the largest mortgage lender in the country but it is very important to recognize that it is not the only option when it comes to locking in the lowest possible refinance mortgage rates. There are many local, regional and national mortgage lenders that offer great assistance when it comes to customer service and low interest rates.
As we get deeper and deeper into 2011 it could be the case that mortgage rates start to move higher as the economy improves. The federal reserve bank is stated many times that as the overall economy improves it is very possible that 30 year fixed mortgage rates could move above 5% and possibly toward 6%.
Author: Alan Lake
Tags: bank of america mortgage rates > bank of america refinance > home loan interest rates > lowest bank of america rates > lowest home loan rates > lowest mortgage interest rates
Comments
Leave a Reply