Bank of America Refinance Mortgage Rates
Bank of America refinance mortgage rates continue to remain stable in 2010. In March we have seen Bank of America home loans around 4.75% for a 30 year fixed mortgage. When looking at historical mortgage rates you will clearly notice that this is an extremely low level.
It is very important to note that not everyone will qualify for a 30 year fixed mortgage rate at 4.75%. Even though the average is at this rate it does not mean that borrowers who have little home equity can access these rates. It is becoming more and more common that you will need a significant amount of equity to access low mortgage interest rates.
Prospective homebuyers should know that since the beginning of the year, two important events have occurred with mortgage offerings. First, the rates on some types of mortgages have declined. Second, a number of lenders have introduced new mortgage plans as a way of competing for your business.