Consistency has been the name of the game at Bank of America (NYSE:BAC) throughout the week as a whole, with both home purchase and refinance mortgage rates having remained largely unchanged day after day. The result has been yet another week of superb investment and refinance opportunities for American borrowers coast to coast, though analysts are once again advising caution that the coming days and weeks could see upticks creeping in to a significant extent.
Home purchase mortgage rates first and this Sunday morning sees the Bank of America 30 year fixed rate home loan being offered for 3.500% and an APR of 3.636%, while the shorter 15 year version can be taken out and locked in for a hugely competitive 2.875% and APR of 3.213%.
If looking to purchase a new or used home today with an adjustable rate loan from Bank of America, the standard 7/1 ARM is being offered with a low opening rate of 2.875% and an APR of 3.165% variable, while those preferring the 5/1 ARM will be offered an interest rate of 2.625% to begin and an APR amounting to 3.127% variable
Moving on to look at refinance mortgage rates of the day now and Bank of America sets the bar high as always. As of today, the 30 year fixed rate home refinance loan is being offered for 3.750% and APR of 3.963%, while those opting for the 15 year variant will be offered an interest rate of 3.000% and an APR at a daily low of 3.334%.
By way of adjustable rate home refinance loans of particularly worthy mention today, the 7/1 ARM from Bank of America is now being offered with a starting rate of 2.875% and an APR of 3.183% variable, while the 5/1 ARM alternative represents superb value for money at 2.750% to begin and with an APR coming out at 3.168% variable.