Mortgage Rates Today: Bank of America Competitive Refinance Packages

October 14, 2011 / Russell Legato, Residential Property Analyst

As has been the case throughout the week across the board, Bank of America (NYSE:BAC) has entered Friday by advertising an exceptionally attractive range of refinance mortgage products, which although are far from the record lows of previous week still offer excellent value for money.

Mortgage Rates Today: Bank of America Competitive Refinance Packages

As of this morning, borrowers looking to refinance can find the 30 year fixed term deal at a rate of 4.500% and a resulting APR of 4.679%, while the alternative 15 year fixed deal can be locked in for 3.875% and an attached APR of 4.206%.

A number of excellent adjustable packages are also being offered for refinance deals, with the 7/1 ARM agreement now beginning at a rate of 3.500% and an APR figure of 3.492%, while the interest rate applicable to the 5/1 ARM is now at 3.250% to begin and an APR of 3.360%.

This week has once again served as a reminder that the US public simply has no intention of reaching into pockets and signing up to new deals in the near future, with record numbers now confident the days of low prices and low rates may indeed be here to stay.

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