The 5/1 ARM deals at BoA are published at 3.000% yielding an APR of 2.925% at present.
What does it cost to refinance?
The best 30 year refinance loans at BoA have been published at 4.500% and APR of 4.589% today. Popular 15 year refinance loan deals at the bank start at 3.500% yielding an APR of 3.696% today. 5 year refi ARM interest rates at BoA start at 3.375% yielding an APR of 3.038%.
How are the mortgage rates connected to the stock market?
All the mortgage rates published by banks are often influenced by mortgage related bonds which roughly follow motions in the stock market. Stock markets dropped in trading today leaving the DJIA at 15,337.70 a decrease of -113.35.
Mortgage rates at BoA blindly followed the trading pattern of the day. On the topic of stocks, this particular bank’s stock price rose to 14.45 up +0.13.