Jul 26, 2009
Bank of America Refinance Mortgage Rates - Interest Rates to 6%?
Bank of America refinance mortgage rates have yet to see the affect of the strong move up by the 10 year treasury rate yield. The yield moved up from 3.3% to 3.67% in two short weeks and average mortgage rates have yet to budge. This is going to make for a very interesting next few weeks as something has to give. Either the 10 year yield has to come back down dramatically or the 30 year fixed rate mortgage needs to march its way towards 6%.
It is a very tough time to consider your options but one thing is for sure, if you have been thinking about refinancing or getting that first mortgage, now might be as good of a time as any. If you wait a few months or even a few weeks, you might find that Bank of America mortgage rates have moved above 6%. With mortgage rates currently sitting at 5.25%, you might be missing a huge opportunity if you wait to see if interest rates fall.
There are plenty of options available when it comes to getting a low mortgage rate at the current time. There are advertistements all over the internet and television that offer an 800 to contact a representative. I would not take everything the representative says as the gospel, but it will be a good resource to have as a starting point. There are also some great resourcing on the Internet if you do some specific Google searches.