The best 30 year loans are being offered for 4.250% at Bank of America (NYSE:BAC) and an APR of 4.365% today. The shorter term, popular 15 year loans are listed at 3.500% at the bank and an APR of 3.680% today.
5 year ARM interest rates at Bank of America are 2.875% and the APR is 2.895% on initial purchase.
Mortgage Rates for Refinancing Your Home
The benchmark 30 year refinance fixed rate loan interest rates at Bank of America are being quoted at 4.375% yielding an APR of 4.508% today. The shorter term, popular 15 year refi fixed rate loan interest rates at the bank stand at 3.500% today carrying an APR of 3.719%. 5/1 ARMs at Bank of America are coming out at 3.250%. and an APR of 3.001%.
Market Impact on Mortgage Rates
Interest rates for mortgages sometimes rise and fall with MBS’s traded on finance markets that are traded in the stock market. Wall street dropped by close of day today putting the DJAI at 15,337.70.
As expected Bank of America followed Wall Streets direction. Closer to home, Bank of America’s own stock gained ground to 14.45 up +0.87%.