Bank of America Refinance Mortgage Rates – 10 Year Note Yields Continue to Keep Home Loan Interest Rates Near 2011 Lows
Posted on | May 25, 2011 | Comments Off
Bank of America refinance mortgage rates continued to defy all odds and remain near all-time lows even though the economy is getting slightly better. The 10 year note yield has greatly helped to keep interest rates low as we are currently seeing the 10 year yield around 3.1%. Since 1971 the 30 year conventional fixed mortgage rate the 10 year yield about a very strong correlation.
As long as the 10 year treasury rate yield continues to remain near 2011 lows it will be the case that Americans have an opportunity to lock into the lowest mortgage rates in recent memory. It is important to note that it takes an amazing credit score and very smart financial decisions over the last several years to have any opportunity to lock into the lowest interest rates available.
Unfortunately, many Americans have made poor financial decisions over the last several months and years which has made it quite difficult to receive low-interest rate offers at the present time. With this in mind it is always advisable to make certain that all bills are paid on time and in full.
By making certain the bills are paid on time most Americans would find that their credit score gradually increases over time. It is important to realize that it takes several years and possibly even several decades to improve a severely damaged credit score so it is advisable to be patient but there is no reason to neglect this opportunity. It is always important to start as early as possible when it comes to improving a credit score.
Taking the time and effort to do substantial amounts of research could also prove to be very important when it comes to improving a mortgage interest rate. With several mortgage lenders available in almost every area of the country there’s no reason to pass up an opportunity to get mortgage interest rate quotes from many different lenders.
Author: Alan Lake
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