Kirk's Market Thoughts: BofA: Bank of America Mortgage Rates

Monday, November 30, 2009

BofA: Bank of America Mortgage Rates

Bank of America: Home Mortgage Lending Rates at BofA.

Interest rates are very low. If you have good credit, then now is an excellent time to lock in a long-term loan at favorable rates. If interest rates soar, then you are hedged for inflation since you can replay the loan with depreciated dollars.

Conforming Loans
(For Loans under $417,000)

-- Loan Type --            Points  %APR
30-Year Fixed Rate         1.125   4.893
15-Year Fixed Rate         0.750   4.439
3-Year ARM                 1.000   3.569
5-Year ARM                 0.875   3.583
30-Yr Fixed interest only  1.250   5.517
5-Year ARM, interest only  0.875   3.663

Rates as of Nov 30 2009 06:50 AM

Jumbo Loans
(For loans over $417,000)

 -- Loan Type --           Points  %APR
3-Year ARM                  0.875  3.929
30-Yr Fixed, interest only  2.125  7.364
5-Year ARM, interest only   1.000  4.089
30-Year Fixed Rate          0.875  4.990
15-Year Fixed Rate          1.250  4.504
5-Year ARM                  1.000  3.678

Rates as of Nov 30 2009 06:50 AM

For current rates and to view in table form, see