Bank of America refinance mortgage rates continue to grind sideways as the 10 year treasury rate yield is between its 50 day and 200 day moving averages. ?Home loans have been quite low for much of the year and May has shown to be no different. ?Over the last week we have seen 30 year fixed mortgage rates drop from 5% all the way down to 4.8%.


Bank of America and almost all mortgage lenders have greatly benefitted from the current low interest rate environment. ?Look for that to continue until we see 30 year fixed rates above 5.5%. ?The psychology at the present time is that 30 year rates will be at or around 5% for quite some time and the market has done little to adjust that.

Many analysts continue to predict higher mortgage interest rates but the Fed continues to take the necessary steps to make sure Americans have the ability to lock in low rates. ?It will be interesting to see what happens into the summer.

Author: Jeremy North