Bank of America Refinance Mortgage Rates – 4.6% Average 30 Year Home Loans on April 20 for Borrowers Nationwide
Posted on | April 20, 2011 | Comments Off
Over the last week we have seen 30 year fixed mortgage rates dropped from 4.8% all the way down to 4.6%. Much of this is due to the fact that the 10 year treasury rate yield has dropped below its 50 day moving average which is helped to push Bank of America refinance mortgage rates to April 2011 lows.
With 30 year fixed rates being near the lowest levels of the year it should come as no surprise to see many Americans submitting refinance applications for an opportunity to save money during the spring of 2011. With average 30 year fixed home loan rates well below the 5% mark many American stand to benefit greatly by going to the refinance process.
It is very important to remember that only the best borrowers of money have any opportunity to lock in the lowest rates. With the credit score above 740, a debt to income ratio below 40%, and a significant amount of home equity some American homeowners will position themselves very well when it comes to taking advantage of the low interest-rate environment they could be ending in the near future.
Many analysts have predicted that the overall economy gets better it will likely be the case that interest rates start to rise. With the unemployment rate under 9% and the stock market continuing to make multi-year highs each and every month there are many reasons to believe that the economy is getting better quickly which in turn will likely push mortgage rates up.
Rather than allowing this opportunity to pass it may be a wise choice to start research as soon as possible. By doing this research many Americans will find that there are several opportunities to lock in low rates by simply contacting several mortgage lenders. With over 7000 FDIC insured institutions throughout the country and should not be hard to find a bank that will be willing to help.
Author: Alan Lake
Tags: bank of america home loans > bank of america mortgage rates > bank of america rates > bank of america refinance > home loan interest rates > home loan mortgage interest rates > home loan mortgage rates