In a week that had been predicted to bring nothing other than fractional though consistent hikes in mortgage rates across the board, Bank of America (NYSE:BAC) is one of many lenders to have not only retained incredible value, but in some examples even brought along the odd reduction or two. As such, the weekend once again looks to be a golden opportunity, where millions have an excellent chance of saving thousands of dollars on their current mortgage balances.
In the case of the very best refinance deals being offered by Bank of America today, the standard 30 year fixed rate loan is being offered for 4.250% and an APR amounting to 4.465%, while shorter 15 year refinance deals can be locked in for 3.750% and APR of 4.089%.
If adjustable deals seem to fit the bill better, Bank of America is today offering a wide selection of choices, including the standard 7/1 ARM at a rate of 3.250% to begin and an APR of 3.435% variable, while the 5/1 ARM on the other hand now starts at 3.000% and APR of 3.367% variable.
As can clearly be seen, each and every offer represents truly staggering value for money when compared to thousands of higher rate loans being paid across the US, though whether the masses in this instance truly make the best of rich pickings once again remains to be seen.