Bank of America is still offering low interest rates on mortgages in March as interest rates stay around 5% on average. Some homeowners, that qualify, are able to get a rate around 4.75% on their mortgage, but even those unable to get a rate that low are able to lower their mortgage rate by refinancing.
Also, new homeowners with a Bank of America mortgage are starting out their journey of homeownership with a very affordable rate on their mortgage as many top lenders continue to keep rates low, despite rumors and reports that mortgage rates may soon rise.
Bank of America, along with other lenders, have had low mortgage rates for months as the housing market has yet to return to full strength. Homeowners that are buying or refinancing to a low mortgage rate are also being met with a low mortgage payment as well, which has enticed many to either buy or refinance.
If you are financially able and in need of a lower mortgage rate, you may want to look into a home loan or refinancing options from Bank of America and other lenders as there are still low mortgage rates to be had.