Bank of America (NYSE: BAC), which is headquartered in Charlotte, NC, is one of the premier bank holding companies in the United States. BofA offers diverse financial and banking services, including home mortgage loans. In today’s mortgage report we are going to disclose the latest mortgage interest rates for BofA’s home purchase and refinance loan packages. Keep in mind that these mortgage interest rates are subject to change without prior notice from the bank and may vary upon loan approval or disbursement. The latest mortgage rates for June 3, 2014 are listed below.
Borrowers, who are browsing through today’s home purchase rates at Bank of America, will see the lender’s 30-year fixed mortgage coming out at a rate of 4.000%. According to the latest mortgage information, this type of loan carries 4.182% by way of annual percentage rate (APR). The 15-year FRM may be the preferred choice for some mortgage shoppers, as it’s currently hovering at 3.125%. As far as the APR is concerned, it stands at 3.407%.
Switching to BofA’s best home refinance rates on Tuesday, the 30-year fixed mortgage now carries 4.125% in interest and 4.273% by way of APR. The 15-year version of the bank’s fixed refinance mortgage is offered at a rate of 3.125%, whilst the APR is quoted at 3.456%.
In other mortgage-related news, Virgina-based mortgage-finance company published its weekly mortgage survey last week, which showed that average mortgage rates on 30-year and 15-year fixed mortgages declined for the fifth straight week. The 30-year fixed loan averaged 4.12% last week, an improvement of 2 basis points compared to the previous 4.14% that it held in the prior week. As far as the 15-year fixed mortgage is concerned, the average mortgage rate fell to 3.21% from 3.25%, according to Freddie Mac.
Head over to the lender’s website for updated mortgage loan information or contact the loan officer in charge.