Bank of America Refinance Mortgage Rates – Weekend Home Loans at 4% for 15 Year Fixed Mortgage
Posted on | February 25, 2011 | No Comments
Bank of America refinance mortgage rates are currently very close to February 2011 lows as heading into the final weekend we are seeing 15 year fixed mortgage rates around 4%. We are also seeing 30 year fixed mortgage rates around 4.75% which is very little when looking at historical chart of interest rates over multiple decades.
Bank of America is currently the largest mortgage lender in the country but it is very important to understand that this is not the only financial institution to offer low interest rates. By doing research online most homeowners will find that there are many valuable resources that can help them find mortgage lenders at the local, regional and national level.
As we get closer to the summer of 2011 there is a very good chance that we could see 30 year fixed mortgage rates rise through 5% and possibly all the way to 6%. As the economy improves many people feel that the overall interest rate environment will move higher due to the fact that this misses and customers will no longer need to borrow money at very cheap rates.
The Federal Reserve bank has stated many times that interest rates will likely move higher as the economy improves. With the unemployment rate at 9% and the stock market very close to monthly highs it should come as no surprise to see many people making the prediction that the economy is going to get better and interest rates are going to move up.
With this in mind it may be a wise decision to do a little bit of extra research during the end of February and the beginning of March to see if there are any opportunities to lock in the low 30 year fixed mortgage rates. By doing research online many will find that a very impressive financial history will allow them to save money with lower home loan payments.
Author: Mike Garner
Tags: bank of america home loans > bank of america interest rates > bank of america mortgage rates > bank of america refinance > home loan mortgage rates > weekend home loans
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