Bank of America is reported to have higher mortgage interest rates. The leading financial institution in the United States has shown mixed figures with a report of being the leading advancer among the Dow industrials.
Bank of America is reported with 30-year loan interest rates listed at 3.625 percent and an annual percentage rate of 3.732 percent. The short-term 15 year fixed-rate mortgage interest rates are shown to be starting at 3.000 percent, which yields 3.244 percent APR.
The bank has 5-year adjustable rate mortgage interest rates standing at 2.625 percent with a starting 3.015 percent APR.
At Bank of America, there is 3.750 percent in standard 30-year refinance loans and a 3.911 percent APR. The bank has also popular 15-year refinance fixed rate loan interest rates that start at 3.000 percent that yields an APR of 3.289%. Bank of America’s 5-year refinance ARM interest rates are being offered for 2.625 percent with a starting APR of 3.010 percent.
Coming out at 2.875 percent, the 7-year refinance adjustable rate mortgages at Bank of America start with an APR of 3.079 percent. With an APR starting at 3.359 percent, the 10-year refi deals on ARM are quoted at 3.375 percent.
Meanwhile, stocks at Bank of America (NYSE: BAC) have been swinging sharply higher to pull the blue-chip index. It was reportedly up more than 2 percent in financial stocks, making it the biggest gainer in the Dow Jones Industrial Average. It was followed by J P Morgan Chase & Co. with nearly 1.2 percent increase in the Dow.
With its 2.3 percent increase, Bank of America added it to the 77 percent gain it had over the past year. The bank continues to benefit from its cost cutting measures and the efforts of its wealth management unit despite certain lawsuits.