Bank of America (NYSE: BAC) [stockdata ticker=”BAC”] made no change to its benchmark 30 year fixed mortgage interest rates on February 24, 2014. This Monday, eligible home buyers and refinance seekers can find ideal long term, short term, and flexible home loan deals coming out at the same interest rates as yesterday.
Starting off with the standard long term home loan offerings, the ideal 30 year fixed rate mortgage home loan deals are now coming out at an interest rate of 4.375%, which hasn’t changed a bit, and an annual percentage rate equivalent to 4.501% today. However, seekers of short term home loan deals can go for the 15 year fixed rate mortgage plans, which are now being traded at an interest cost of 3.500% and an annual return rate of 3.668% today.
Mortgage shoppers who are planning on locking in ideal home loan plans at variable rates of interest can find the perfect deals in the adjustable rate mortgage section of Bank of America. As of now, the popular 5 adjustable rate mortgage packages are being advertised at a starting interest rate of 2.875% and an annual percentage yield of 2.898% to start with.
Heading towards the refinancing department of the Charlotte based mortgage provider, interested customers can spot the benchmark 30 year fixed rate mortgage plans being traded at an interest price of 4.500% and being backed by an APR yield of 4.616% today. On the other hand, the relatively shorter 15 year refinancing fixed rate mortgage plans can be acquired at a lending rate of 3.500% and an annual yield of 3.707% this Monday.
For borrowers who are eyeing securing flexible home refinancing loans, the bank in now offering its popular 5 year adjustable rate mortgage home loan schemes at a starting interest charge of 3.250% and an APR yield of 3.001% on the initial amount of home loan sanctioned by the bank.
Borrowers who have been harassed by any automated phone call regarding debt collection from Bank of America in the past few years are eligible for suitable compensation, which can be availed by filing a claim before March 21, 2014. The Charlotte based lender settled a $32 million suit regarding harassing customers with debt repayment calls.
Disclaimer: The rates quoted above are basically the average advertised by a particular lending company. No guarantee of taken from the lender’ aspect whether the borrower will qualify for the mortgage rates mentioned in the article. The lenders dole out interest depending upon various facets, some of which may be unique to the borrower. This website does not engage in the sale or promotion of financial products and makes no claims as to the accuracy of the quotation of interest rates.