The benchmark 30 year loan interest rates start at 4.375% at Bank of America (NYSE:BAC) and an APR of 4.476%. The short term, popular 15 year fixed rate mortgages are being quoted at 3.500% and an APR of 3.692%.
ARMs in the 5 year category at BoA are being quoted at 3.000% and the APR is 2.924%.
Now on to Refinance Mortgage Rates
The best 30 year refinance FRMs are being quoted at 4.375% at BoA carrying an APR of 4.539%. The short term 15 year refi loans start at 3.500% today and an APR of 3.731%. The 5/1 ARMS at Bank of America are being offered for 3.250%. with a starting APR of 3.016%.
All the mortgage rates published are usually influenced by mortgages traded by banks in financial markets which go in the same direction as the stock market. Security markets declined by the end of trading today to leave the DOW at 15,337.70.
For today at least the bank didn’t keep with the DJIA performance today. Now BoA’s own stock price moved ahead to 14.45 up +0.13.