Bank of America-home mortgage rates: Mortgages

Source (www.loansafe.org)

Bank of America is currently offering a 30-year fixed rate mortgage (FRM) at an interest rate of 4.625%, down from Friday’s average of 4.750%. For a 30-year fixed interest-only mortgage (IO), the interest rate is now at 5.125%, up from it’s long unchanged average of 5.000%.

A couple other common mortgages are the 5-year adjustable-rate mortgage (ARM) and the 5-year interest-only ARM. Currently, the 5-year ARM is averaging 3.250%, down from last week’s average of 3.375%, while the 5-year interest only ARM is at 3.625%.

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Mortgages