Refinance mortgage rates at Bank of America (NYSE:BAC) have today taken the lead over the majority of the market as a whole, pipping most rivals to the post. As such, the opportunities on the cards for quite extensive savings are very real indeed and could see millions of US homeowners and mortgage payers better off than with their current deal. Of course, qualification criteria remain strict, but for those able to qualify for the very best rates of all, today is serving up some truly golden opportunities.
Home purchase mortgage rates first and this Wednesday morning sees Bank of America offering the standard 30 year fixed rate loan from as little as 3.375% and with an APR of 3.573%, while the shorter 15 year deal can see balances cleared for an attractive 2.875% and APR of 3.230%.
For those looking to invest in a new or used home with an adjustable rate mortgage from Bank of America, the 7/1 ARM is today being advertised with an interest rate of 2.875% to begin and an APR of 3.184% variable, while the alternative of the 5/1 ARM represents excellent value for money once again at 2.625% to start and with an APR of 3.125% variable.
Turning attention to those market-leading refinance mortgage rates now and Bank of America kicks thing off with the 30 year fixed rate loan now at 3.750% and APR of 3.929%, which is joined by the 15 year variant now asking as little as 3.000% and an APR amounting to 3.351%.
For existing mortgage payers looking to refinance their home with an adjustable rate deal, the Bank of America 7/1 ARM is today starting at 2.875% and carrying an APR of 3.201% variable, while the 5/1 ARM continues to perform very strongly at 2.625% to begin and with an APR of 3.153% variable.