There has never been a better time than that of late in which to lock in a truly excellent refinance mortgage deal and save a small fortune on current terms, with Bank of America (NYSE:BAC) today indicating that the recent run of value is far from over yet. Minor fluctuations aside, the vast majority of mortgage rates being offered by Bank of America today are well within similar ranges to all-time record lows seen back in October, though exactly what the rest of the week will bring remains a mystery to say the least.
For today however, those interested in taking out the 30 year fixed rate refinance loan with Bank of America can expect to pay 4.250% for the privilege and an APR amounting to 4.458%, while the 15 year refinance package can be taken out and locked in for 3.625% and APR of 4.006%.
If adjustable rate deals seem to fit the bill better, Bank of America is today offering the 7/1 refinance ARM at a rate of 3.125% to begin and an APR of 3.399% variable, while the alternative of the 5/1 ARM can be taken home for 2.875% to begin and an APR of 3.326% variable.
As previously stated, there really is very little chance of accurately predicting exactly where the rates will continue to go for the remainder of the week, though with the rates of today offering such incredible value for money, there really is very little reason not to act right now.