Bank of America Refinance Mortgage Rates – 4.7% Home Loan Rates Available on March 25 to Well Qualified Borrowers
Posted on | March 25, 2011 | Comments Off
Bank of America refinance mortgage rates have been a very attractive levels for the entire month of March but we have recently seen the 30 year conventional fixed-rate bounce off its March low end is up to 4.7%. Just a few weeks ago we saw the 30 year fixed rate as low as 4.5% but rates are still attractive when looking at a historical chart.
The 10 year treasury rate yield dropped to its 2011 low in the middle of March but is currently make its way back towards its 50 day moving average. If the 30 year conventional fixed mortgage rate continues to follow the 10 year treasury rate yield that we can expect to see 30 year fixed mortgages around 5% of the 10 year yield continues higher.
Since 1971 the 10 year treasury rate yield on the 30 year fixed mortgage of had a very strong correlation and that should not change in 2011. Even though the federal reserve bank is taking every necessary step to keep interest rates low and is still the case that the 10 year yield and 30 year fixed mortgage have a strong correlation.
When looking to refinance a home loan in March or April of 2011 it may be a wise decision to do research to do rather than later. If Americans continue to wait and hope that interest rates will drop that there’s a very strong possibility that they could miss out on a great opportunity. Many analysts predict that the overall economy improves we’ll see interest rates start to move up quickly.
But the unemployment rate below 9% and the stock market making multiyear highs each and every month there are many signs pointing towards economic growth. If this economic growth continues then there is very little doubt that interest rates will increase on home loans, car loans, personal loans and credit cards. With this in mind it is always wise to take advantage of the low interest-rate environment while it is available.
Author: Mike Garner
Tags: bank of america home loans > bank of america mortgage rates > bank of america refinance > bank of america refinance rates > home loan interest rates > home loan mortgage rates