Bank of America Refinance Mortgage Rates – Fixed 30 Year Home Loans Continue Lower This Weekend in August
Posted on | August 19, 2011 | Comments Off
In August of 2011 we have seen the 30 year fixed mortgage rate drop to some of the lowest levels in the history of the United States housing market. Many hard working American homeowners continue to seek the lowest possible interest rates from banks such as Bank of America, Chase, Wells Fargo and Citigroup.
As we get closer to the fall of 2011 there is a good chance that we could see all time lows when it comes to mortgage interest rates. Before making any final decisions when it comes to refinancing a home loan it is always a wise decision to do extensive research and understand what options are available.
By doing a little bit of research online many will find that there are a number of lenders throughout the United States at the local, regional and national level. Contacting some of these individual companies will likely help individuals recognize what a competitive interest rate would be for their specific financial situation.
Bank of America along with JP Morgan Chase, Citigroup and Wells Fargo are the big four banks in the United States but just because they are big banks it does not mean that they are the best for a specific financial situation. This is another reason that it is very important to contact several lenders.
The general rule of thumb is that Americans should have a credit score over 740 and a debt to income ratio under 40% to have any chance to lock in to the lowest rates. Without these financial requirements individuals will likely find that they cannot lock in to 30 year fixed rates that are currently under 4.5%.
Author: Alan Lake
Tags: bank of america loans > bank of america mortgage ratse > bank of america rates > bank of america refinance > fixed home loan rates > home loan interest rates