Bank of America Refinance Mortgage Rates – This Week’s Lowest Home Loans Start at 4.5% for Well Qualified Borrowers
Posted on | March 21, 2011 | Comments Off
Last week we saw the 10 year treasury rate yield dropped to its 2011 lower which in turn pushed 30 year fixed mortgage rates to 4.5%. With Bank of America refinance mortgage rates very close to all-time lows it should come as no surprise to see many Americans looking for this week’s lowest home loan interest rates.
It is very important to remember that it takes an amazing financial history for borrowers to have any opportunity to qualify for the lowest possible refinance rates in March of 2011. Well-qualified borrowers will need a credit score above 740 and a debt to income ratio below 40%.
Taking a little bit of extra time and effort to do research on a personal finance situation could prove to be greatly important when it comes to saving money with low mortgage rates. With the many free resources available online and should not be overly difficult to better understand what decisions can be made to increase the credit score and save money with lower interest rates in the long run.
Making certain that a credit report is completely free of errors is one of the necessary steps when it comes to gaining access to the lowest refinance rates. Luckily, the government FTC offers free credit reports to each and every American at the website annualcreditreport.com. While this website does not include a free credit score it will help to look at a free credit report.
While Bank of America is one of the largest mortgage lenders in the nation it is very important to distinguish the terror over 7000 FDIC insured banks they can help when it comes to locking in low home loan interest rates. By doing research on the competition is likely the case that homeowners will find that there are a number of local and regional banks that will offer great customer service to go along with low rates.
Author: Alan Lake
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