Bank of America Refinance Mortgage Rates – Today’s 30 Year Home Loans Dip Under 4.5% for 30 Year
Posted on | March 17, 2011 | Comments Off
It is hard to believe the 30 year fixed mortgage rates are under 4.5% again but this is exactly what has happened as the 10 year treasury rate yield continues to drop lower. At the present time it looks as if the 10 year treasury rate yield will fall all the way to its 200 day moving average which in turn should push mortgage rates much lower.
Bank of America refinance mortgage rates are being reported around 4.45% for the 30 year fixed but it is very important for all homeowners to recognize that these rates are only available to individuals who have a very good credit score. By not having an impressive credit score is usually the case that lenders will not be willing to offer low interest rates to borrowers.
A credit score above 740 is suggested or those who are looking to refinance to the lowest possible rates in March of 2011. By not having a credit score this level of American homeowners can expect receive interest rates slightly higher due to their poor financial decisions in the recent past.
By paying down high interest rate debt such as credit cards and personal loans most Americans will find that they are credit score improves drastically. Unfortunately, many Americans continue to neglect these obligations which in turn shows mortgage lenders that they are not willing to make strong financial decisions.
While Bank of America is currently one of the largest mortgage lenders in the nation is very important to remember that there are over 7000 FDIC insured banks throughout the country. With this much competition and should not be difficult to find a bank that offers great customer service to go along with very low interest rates.
Author: Heather Best
Tags: bank of america home loans > bank of america loan rates > bank of america mortgage rates > bank of america refinance rates > home loan interest rates > todays 30 year fixed rates