Bank of America Refinance Mortgage Rates – Higher 10 Year Yield Pushed Fixed Home Loans Towards 4.4% This Weekend
Posted on | July 22, 2011 | Comments Off
Bank of America refinance mortgage rates have been very low over the last two weeks but recently we have seen the 10 year treasury rate yield push above the 3% level which in turn has pushed 30 year fixed mortgage rates higher. At the present time we are seeing 30 year fixed rates very close to 4.4% for borrowers who have very good financial history.
While Bank of America is one of the largest financial institutions in the United States is very important for all individuals looking to refinance to understand that there are many options available. As of July 21, 2011 the FDIC insures over 7000 financial institutions they can help when it comes to any type of loan process.
With the advances in technology it is now possible for all American homeowners to utilize the FDIC search tool to find lenders and their specific area. But finding lenders at the local and regional level some individuals may find that there are plenty of opportunities to receive great customer service along with attractive interest-rate offers.
When looking to receive the lowest interest rates on any type of loan including a home loan, car loan, personal loan or credit card it is imperative for customers to have a very impressive credit score above 740 and a low debt to income ratio that is under 40%. By not meeting some of these financial requirements on individuals could find out that they do not qualify for the lowest interest rates being advertised today.
With this in mind it is always a wise choice to pay down my interest-rate debts before going into any type of loan process. By paying down on secured credit card debts or personal loans some individuals could see their credit score jump by as much as 100 points which could be hundreds of dollars saved.
Author: Jeremy North
Tags: bank of america home loans > bank of america refinance > bank of america refinance rates > fixed home loan rates > fixed refinance home loan rates > fixed refinance mortgage rates