The benchmark 30 year fixed rate mortgage interest rates are being quoted at 4.250% at Bank of America (NYSE:BAC) yielding an APR of 4.361%. The shorter term, popular 15 year loans at the bank are 3.500% and APR of 3.668% today.
The 5 year ARMs are 3.000% at BoA and an APR of 3.007%. ARMs and their APRs change as interest rates move up and down.
Current Refinance Mortgage Rates
30 year refinance fixed rate loans are 4.375% at BoA and APR of 4.502% today. The short term, popular 15 year refi fixed rate mortgages can be had for 3.500% at the bank with an APR of 3.707%. In the ARM arena, 5 year refinance interest rates stand at 3.250% at BoA. and APR of 3.098%.
Rates banks charge usually change with market traded MBS prices that partially track with the stock market. Overall markets went down by the end of trading putting the DOW at 15,337.70.
Today BoA tracked with the stock market direction. On the topic of stocks, BoA’s stock price moved ahead to 14.45 up +0.87%.