Bank of America Refinance Mortgage Rates – Lower Home Loans Due to 10 Year Treasury Rate Yield Drop
Posted on | February 24, 2011 | No Comments
Over the last few days we have seen the 10 year treasury rate yield drop below its 50 day moving average which in turn has pushed 30 year fixed home loans close to a February 2011 low. We are currently seeing Bank of America refinance mortgage rates as low as 4.7% for the 30 year fixed mortgage on February 24, 2011.
With the 10 year treasury rate yield now below its 50 day moving average will be very interesting to see what happens over the next several weeks. If the 10 year treasury rate yield continues to move sideways to lower it will likely be the case that 30 year fixed mortgage rates remain around 4.75% for borrowers with a very good credit score.
It is important to note that only the best borrowers have the opportunity to lock in to the lowest possible 30 year fixed home loan interest rates in February of 2011. By having a credit score that is in excess of 740 and a debt to income ratio that is well under 40% homeowners will likely find that they can receive attractive interest rate offers from lenders.
Bank of America is currently the largest financial institution in the country but it is imperative to realize that there are many options at the local and regional level. There are over 7000 FDIC insured banks throughout the country so it is always a good idea to shop around and see if there are any incentives to work with a specific financial institution.
Going into this process it is always advisable to do a little bit of extra research. By accessing the government HUD website most will find that there are many free resources that will help them better understand each and every step of the refinance process. This could help them save significantly when it comes to costs and fees.
Author: Alan Lake
Tags: bank of america home loans > bank of america interest rates > bank of america mortgage rates > bank of america refinance > home loan rates today > lowest home loan rates
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