The best 30 year loans are coming out at 4.250% at Bank of America (NYSE:BAC) and an APR of 4.382% today. Popular 15 year FRM interest rates have been offered at 3.500% at the bank today yielding an APR of 3.662%.
The 5 year ARM loans are listed at 2.875% at Bank of America with a starting APR of 2.897%.
Home Refinance Interest Rates
The benchmark 30 year refinance fixed rate mortgage interest rates at Bank of America are available starting at 4.375% yielding an APR of 4.523% today. Shorter term 15 year refi fixed rate mortgages at the bank have been offered at 3.500% with an APR of 3.701% today. The 5/1 Adjustable Rate Mortgages at Bank of America have been quoted at 3.250%. with a starting APR of 3.004%.
How are the mortgage rates connected to the stock market?
Rates banks charge sometimes vacillate because of MBS’s (mortgage backed securities) which partially track with the stock market. Securities declined in trading today putting the DJAI at 15,337.70 a decrease of -113.35.
Rates at the bank moved in the same direction as the days trading results. Closer to home, the banks stock gained ground to 14.45 up +0.87%.