Mortgage Rates Today: Bank of America Purchase Interest Rates Maintain Strength

November 02, 2011 / Russell Legato, Residential Property Analyst

As is the case across many of the larger US lenders the Wednesday, Bank of America (NYSE:BAC) is today advertising a range of incredible home purchase mortgage, which have defied all realistic expectations to maintain their value and in some cases decrease week on week. As such, those reluctant to commit to a new deal still have the potential opportunity to lock in an excellent rate, though are being reminded to act soon in order to avoid missing out for good.

Mortgage Rates Today: Bank of America Purchase Interest Rates Maintain Strength

First looking at the options available for fixed rate home purchase packages today, Bank of America is offering the 30 year loan at a rate of 3.875% and APR of 4.064%, while popular 15 year loans on the other hand can be locked in for 3.250% and APR amounting to 3.531%.

Adjustable terms are likewise showing incredible strength once again today, with the excellent 7/1 ARM being offered for a starting rate of 3.000% and APR amounting to 3.309% variable, while 5/1 ARM deals can be taken for 2.750%, yielding APR of 3.241% variable.

Needless to say, the above figures serve as excellent reminders of the true scale of the deals still available, though with predictions once again pointing to potentially imminent rises, the time to take the leap is well and truly right now.

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