Standard 30 year loans are on the books at 4.375% at Bank of America (NYSE:BAC) yielding an APR of 4.484% today. The short term, popular 15 year fixed rate loan interest rates have been published at 3.500% at the bank today and an APR of 3.659%.
In the ARM arena, 5 year loans at Bank of America can be had for 3.000% and the APR is 2.926% on initial purchase.
Home Refinance Rates
Standard 30 year refinance FRM interest rates at Bank of America are published at 4.500% with an APR of 4.590% today. Popular 15 year refinance loan interest rates are published at 3.500% yielding an APR of 3.698% today. In the ARM arena, 5 year refinance loans have been listed at 3.375% at Bank of America. and APR of 3.039%.
Stock Market Update
Rates sometimes rise and fall with securities backed by mortgages that usually move with the stock market. Stocks went down by the end of trading today to leave the DOW at 15,337.70 a decrease of -113.35.
Mortgage rates at the bank did not defy the DJIA results. Also in the market, Bank of America’s own stock ticker rose to 14.45 up +0.13.