Home Mortgage | Bank Of America Refinance Mortgage Rates – Boa Home Loans Up In
April 28, 2010 – 12:47 am
Bank of America refinance mortgage rates have been at historically low levels for the firs three months of 2010. In April, many things have changed as home loans are pushing higher with rates close to 5.25%. Since the beginning of April mortgage interest rates have move up from 4.75% to 5.15%. No one knows if this trend is going to continue for the short term but in the long term many analysts continue to predict higher rates.
At the beginning of the year many analysts and economists predicted that home loan rates were likely to move up in the Spring of 2010. At the beginning of the Spring we saw 30 year fixed rates around 4.75% but that did not last long as the 10 year treasury rate yield started up trending. Over the last few weeks we have seen the 10 year yield break through its 50 day moving average and work its way much higher. This is a sign that higher rates are likely to come in the very near future.
Bank of America is considered one of the Big Four banks along with JP Morgan Chase, Wells Fargo and Citigroup. These banks and mortgage lenders have had the luxury of a low interest rate environment for over 18 months. Now that rates are moving higher it will be very interesting to see how these banks adjust their marketing strategy. It is no longer going to be the case that customers are knocking on their doors because Bank of America refinance mortgage rates are not likely to stay low much longer.
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By: Jesse W.
Article Directory: http://www.articledashboard.com
Bank of America refinance mortgage rates could be moving higher in the spring of 2010. It would be wise to find low mortgage interest rates today to save money.
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Tags: Home Mortgage, refinance mortgage, refinance mortgage rates
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