Bank of America Refinance Mortgage Rates – May 26 Average 30 Year Fixed Home Loans Remain Near 4.5% for Borrowers
Posted on | May 26, 2011 | Comments Off
Bank of America refinance mortgage rates have been a hot topic for many American households as a growing number of individuals would like the opportunity to save money by refinancing. On May 26th, 2011 most Americans are finding that average 30 year fixed interest rates are around 4.5% for those with a great credit score.
By having an amazing credit score that is above 740 and a very low debt to income ratio that is under 40% many Americans will have a great chance to save money by refinancing. If customers do not meet these financial requirements it is important to remember that they will likely not receive the lowest interest rates.
With this in mind it is very important to do research and make certain that a credit score is representative of a financial situation. Unfortunately, some Americans will find that mistakes and errors could weigh negatively on a credit score which in turn could make it quite difficult to receive the lowest interest rate offers in May of 2011.
The free annual credit report that is available online at the website annualcreditreport.com should help many Americans make certain that their credit history report is 100% accurate. Without ever checking this credit report there is a good chance that Americans may never truly know if there are mistakes hurting their chance at low interest rates.
It is also important to know that Bank of America is one of the largest financial institutions in the United State but definitely not the only options when it comes to locking in low rates. Some Americans do not realize that this is a very competitive industry and there are many options at the local, regional and national level.
Author: Mike Garner
Tags: average bank of america rates > average home loan rates > average mortgage interest rates > bank of america home loans > bank of america interest rates > bank of america refinance > home loan interest rates