Bank of America Refinance Mortgage Rates – 4.85% for 30 Year Fixed Home Loans on February 16
Posted on | February 16, 2011 | No Comments
The 10 year treasury rate yield has been very stable over the last several days which in turn has helped 30 year fixed mortgage rates to stabilize as well. At the present time we are seeing Bank of America refinance mortgage rates around 4.85% for the 30 year fixed home loan. It is important to recognize and understand that these low interest rates are only available to superior borrowers of money.
By having a poor credit score at a very low debt to income ratio is extremely difficult to lock in the lowest refinance mortgage rates in February of 2011. Even though many mortgage lenders are reporting 30 year fixed rates well below 5% it is still the case that many homeowners will not have the ability to qualify due to a poor credit score or high debt to income ratio.
With this in mind it is always advisable to do a little bit of research on a personal finance situation. By accessing the website annualcreditreport.com Americans will receive one free credit report each and every year that is supported by the federal government and FTC. If their mistakes or errors on this credit report it is advisable to fix them as soon as possible.
Some homeowners have found that they end up losing out on hundreds of dollars a month in savings due to the fact that there were mistakes on a credit report. This is the exact reason that the federal government offers a free credit report to each and every American is they want individuals to receive interest rates that reflect their specific financial situation.
Bank of America is currently the largest mortgage lender in the country but it is very important to recognize that they are not the only option when it comes to locking in low refinance mortgage rates. By doing research online most homeowners will find that there are many financial institutions at the local and regional level that offer great customer service along with low interest rates.
Author: Mike Garner
Tags: bank of america home loans > bank of america mortgage rates > bank of america refinance > bank of america refinance mortgage rates > home loan interest rates > home loan mortgage rates
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