In today’s mortgage report we are going to disclose the current mortgage interest rates of North Carolina-based lender, Bank of America (NYSE: BAC), as the the bank has just updated its rate information, which reflect the latest changes.
In today’s mortgage report we are going to disclose the current mortgage interest rates of North Carolina-based lender, Bank of America (NYSE: BAC), as the the bank has just updated its rate information, which reflect the latest changes. Bear in mind that these mortgage interest rates are subject to change without prior notice from the bank and may vary upon loan approval or disbursement. BofA’s latest mortgage interest rates, updated for July 7, 2014, can be found below.
Among the financial institution’s popular home loans, borrowers can find the long-term 30-year conventional loan, which starts at a rate of 4.125% as of Monday. This mortgage loan features an APR figure of 4.283%. Staying with home purchase loans, the shorter-term 15-year fixed mortgage is offered by BofA at a rate of 3.125%. The current annual percentage rate on this loan stands at 3.450%.
For home refinancing purposes, the lender advertises the 30-year fixed loan for as low as 4.250% and the mortgage package carries 4.405% by way of APR. Borrowers, who favor the 15-year version of the bank’s fixed refinance loan, can expect to pay 3.250% in interest. This type of refinance loan comes with an APR variable of 3.559%, according to the bank’s updated mortgage information.
In other mortgage-related news, Virgina-based mortgage-finance company released its weekly mortgage survey last week, which revealed that average interest rates on 30-year fixed mortgages eased slightly. The 30-year fixed loan averaged 4.12% last week, an improvement of 2 basis points compared to the previous 4.14% that it carried in the prior week. As for the 15-year fixed mortgage, the interest rate remained firm at 3.22% last week, Freddie Mac reported.
Head over to the lender’s website for updated mortgage loan information or contact the loan officer in charge.