Bank of America Refinance Mortgage Rates – 30 Year Fixed Home Loans Hit New August 2011 Lows
Posted on | August 22, 2011 | Comments Off
Bank of America refinance mortgage rates remain a very hot topic as millions of Americans homeowners have noticed that 30 year fixed home loans have reached the lowest levels in history. We are currently seeing the 10 year treasury rate yield at 2% which means that 30 year fixed home loans have dipped below 4%.
It is very important for each and every homeowner to recognize that not all Americans can lock in to the lowest interest rates at the present time. In fact, many homeowners are finding it difficult to qualify for the lowest interest rates due to the fact that they have made poor financial decisions in the very recent past.
By missing bill payments or accumulating debt it is often true that homeowners will find it quite hard to qualify for some of the lowest rates. Generally speaking, it takes a credit score that is above 740 and a debt to income ratio that is well below 40% to have any chance to negotiate interest rates under 4.5%.
Bank of America is one of the largest financial institutions in the country but it is very important to realize that the FDIC currently insures over 7000 financial institutions. Many of these institutions are at the local, regional and national level so it should not be overly difficult to find a specific lender quickly.
By using the FDIC search tool most will find that there are many banks within a local area. Even if a specific financial institution is not headquartered in a specific state it does not mean that there are not branches available close by. The advancements of the Internet have made it easier than ever to find some of the best banks throughout the United States.
Author: Jeremy North
Tags: bank of america home loans > bank of america mortgage rates > bank of america refinance > bank of america refinance loans > fixed home loan rates > Refinance Home Loan Rates