Aug 13, 2009
Bank of America Refinance Mortgage Rates - Interest Rates Around 5.3%
AUTHOR: Colin Keller
Bank of America refinance mortgage rates have been very stable this week. Last week we saw interest rates move as much as .4% during the week and shit week we have seen a narrow range from 5.25% to 5.35%. This is to be expected after a crazy week like last week was. The bad news is that it looks as if mortgage rates are going to head higher. The overall mortgage rate trend is up and 6% mortgage rates are likely to occur sometime in September or October. If this is the case, there will be a huge decline in the number of people interested in refinancing.
The good thing about the current state of mortgage rates is that there are still advertisements for mortgage rates under 5%. If you were thinking about refinancing or getting your first mortgage, it might be a good idea to speed up the process. If you wait too long, you might find that mortgage rates are working their way towards 6%. Most of the ads you see on television and the Internet offer an 800 number for you to call and speak to a representative. It might be a wise decision to give them a call and see where mortgage rates are headed.
Congratulations on taking the first step in getting a low mortgage rate. By doing the research you are well ahead of most people in your financial position. The next step is to get out there and contact some of the lenders that offer these low interest rates. You will never know what interest rate you can get if you don’t call!