Mortgage rates at Bank of America (NYSE:BAC) have for the most part started the new week much as the last left off – a general picture of strength and value across the board. Once again however there are better home purchase mortgage rates to be found on the market with rivals such as Wells Fargo (NYSE:WFC), who have consistently led the industry for several weeks now. This could of course all change overnight, therefore is not to be interpreted as a sign of things to come.
Home purchase mortgage rates first and Bank of America is today offering the standard 30 year fixed rate loan with an interest rate of 3.375% and an APR of 3.561%, while the 15 year variant can be taken out and locked in for as little as 2.875% and APR of 3.209%.
For those looking to invest in a new or used home with an adjustable rate mortgage from Bank of America, the standard 7/1 ARM can be taken out starting at 2.750% and with an APR amounting to 3.154% variable, while the 5/1 ARM is being offered this Monday with a low opening rate of 2.500% and an APR of 3.090% variable.
Turning attention to home refinance mortgage rates now and there are certainly some excellent savings to be made. As of today, the Bank of America 30 year fixed rate loan is being offered for 3.625% and APR of 3.864%, while the shorter term of 15 years can see balances cleared for a low rate of 2.875% and APR amounting to 3.297%.
For home refinance borrowers looking to invest in an adjustable rate refinance from Bank of America today, the 7/1 ARM is on the books for a starting rate of 2.750% and an APR of 3.172% variable, while the 5/1 ARM can be taken home starting from 2.500% and carrying an APR of 3.118% variable.
