Bank of America Refinance Mortgage Rates – Fixed Home Loans Up Slightly with 10 Year Treasury Rate Yield
Posted on | September 16, 2011 | Comments Off
Bank of America refinance mortgage rates continue to stabilize around 4.25% for the best borrowers of money. That being said the 10 year treasury rate yields move higher over the last few trading days which in turn has pushed 30 year fixed rates slightly higher for some individuals in specific areas around the country.
The 10 year treasury radios currently sitting right at its 20 day moving average but this could serve as a strong resistance point. If the 10 year treasury rate yield breaks through the 20 day moving average to the upside than it could move up quickly all the way to the 50 day moving average.
If this is the case then we can expect to see 30 year fixed mortgage rates move up significantly over the next few weeks. It is important to note that even if 30 year fixed rates move up there still very close to all-time lows as many Americans can lock in to refinance rates under 5%.
As we get closer to the fall of 2011 will be very interesting to see just how many American submit refinance applications. As interest rates remain very well many American homeowners will notice that refinancing could be a very strong decision in September or October of 2011. It could end up saving some individuals hundreds and possibly even thousands of dollars each year.
Luckily, there are many free mortgage calculators available online that should help Americans recognize how much money they can save. By crunching the numbers individuals will likely find that they should desire to save at least one full percentage point which will cover closing costs during the refinance process this year.
Author: Jeremy North
Tags: bank of america home loans > bank of america interest rates > bank of america loans > bank of america refinance > fixed home loan rates > home loan mortgage rates