Mortgage rate watchers and generally observant consumers should expect something of a feeling of deja-vu today, as Bank of America (NYSE:BAC) and countless other major lenders are offering mortgage deals and packages at almost, if not entirely identical rates to those first offered on Monday. Despite national averages shifting and international pressures having their effects on the market throughout the week, value has remained strong across the board and led to a Friday morning presenting some truly wonderful buying opportunities.
In the case of the very best examples of fixed rate home purchase loans form Bank of America today, the standard 30 year fixed rate loan can be taken out for 4.000% and APR amounting to 4.182%, while those seeking the 15 year fixed rate option will find it being advertised for 3.375% and carrying an APR of 3.697%.
Adjustable rate deals have also followed suit by retaining their excellent levels of value all week long, with better examples today including the popular 7/1 ARM at starting rate of 3.125% and APR of 3.348% variable, while the shorter 5/1 ARM on the other hand now begins at 2.750% and APR of 3.251% variable.
As can clearly be seen, all reasonable estimates have once again been defied to result in a week of truly excellent home purchase mortgage rates across the board, leaving the matter of where the market is likely to head next week about as predictable as the roll of a dice.