Bank of America Refinance Mortgage Rates – October 31 Home Loans Dip to 4.5% for Most Texas Homeowners
Posted on | October 31, 2011 | Comments Off
For much of October the 10 year treasury rate yield has moved higher but in the last three days we have seen a decline to a level below 2.2%. With this being true many Americans are seeking Bank of America refinance mortgage rates under 4.5% in hopes of saving money before going into the Christmas holiday shopping season.
It is important to remember that only the best borrowers of money will have any opportunity to refinance at the lowest rates. Homeowners in the state of Texas are likely looking for 30 year fixed-rate under 5% as this could greatly help them save money on monthly mortgage payments.
Rather than looking for WalMart Black Friday kitchen appliance sales in 2011 and might be a very good choice to cut back on holiday shopping and look for ways to save money in the near future. Unfortunately, many Americans continue to spend money hand over fist during the months of November and December and this could cause major financial problems.
It may also be a wise choice to check out many mortgage lenders before making a final decision. While Bank of America is one of the largest financial institutions in the country it is important to recognize that there are over 7000 FDIC insured banks throughout the United States. Many of these banks have headquarters within the state of Texas.
On October 31, 2011 most homeowners are finding that 30 year fixed rates are around 4.5% but it is important to remember that closing costs can greatly determine how much money can be saved. The general rule of thumb is that individuals should desire to save at least one full percentage point if they hope to benefit from the refinance process in October or November of 2011.
Author: Jeremy North
Tags: bank of america home loans > bank of america refinance > home loan interest rates > home loan mortgage rates > home loan refinance rates > october home loan rates