Bank of America Refinance Mortgage Rates – Fixed Home Loans for 30 Year Mortgage at 4.3% for Good Credit Score Borrowers
Posted on | June 27, 2011 | Comments Off
It is very hard to believe that 30 year fixed mortgage rates have been below 5% for the entire year of 2011 but this is exactly what has happened. Millions of Americans continue to search for Bank of America refinance mortgage rates as they hope to lock in to home loan interest rates that are very close to the lowest levels in the history of the United States housing market.
Before making any assumptions when it comes to locking in to interest rates below 4.5% it is very important for all homeowners to remember that only the best credit score borrowers will be able to qualify for these low rates. It is generally the case that customers will need a credit score that is above 740 and a debt to income ratio below 40% to have any chance to gain access to these low rates.
As we get closer and closer to the fall of 2011 it will be quite interesting to see what happens with overall interest rates. For quite some time analysts have been predicting that interest rates would rise due to an improved economy but this has yet to happen. The unemployment rate remains above 9% and millions of Americans are struggling when it comes to finances.
With this in mind it might be a very good decision to take advantage of low interest rates while they are available. By doing research online most homeowners will find that there are several mortgage lenders nationwide that can help when it comes to locking in the lowest interest rates.
Bank of America is one of the largest banks in the country but do not feel as if they are the only option. There are over 7000 FDIC insured financial institutions throughout the US so there are plenty of available options to all homeowners. Make sure to do extensive research before making any final decisions.
Author: Jeremy North
Tags: bank of america home loans > bank of america refinance > fixed home loan rates > fixed mortgage interest rates > home loan mortgage rates > Refinance Home Loan Rates