Bank of Internet Mortgage Rates and Refinance Rates Today

Bank of Internet USA which says its the oldest and most trusted Internet bank is avertising competitive mortgage rates and refinance rates today.  We received mortgage quotes from Bank of Internet USA for a refinance loan in the amount of $200,000. We selected the state of California as the residence place.

We were quoted several different refinance rates, loan terms and point combinations from Bank of Internet. There were almost too many point combinations from zero points all the way up to 4.625 points. I've never received any quotes with that many points.

Refinance Rates Bank of Internet

30 year refinance rates were quoted at 3.75 percent with zero points and as low as 2.75 percent with 4.625 points. Whether or not paying 4.625 percent of a loan amount to receive 1 percent lower on a loan depends on many factors. The biggest factor is how long you plan to stay in a home.

Anyway, 30 year mortgage rates at 3.75 percent is a quarter point higher than the national average. Mortgage rates today at the national average level are at 3.60 percent. We were given 9 different point/rate combinations to choose from. 30 year refinance rates with 1.50 points were at 3.25 percent, a quarter point below the national average.

Refinancing rates on 20 year mortgage loans were quoted at 2.75 percent with 4.75 points. 20 year refinance rates were also quoted at 3.75 percent with zero mortgage points. The 20 year refinance rate with 1.125 points was at 3.25 percent. Current mortgage rates on 20 year refi loans are at 3.82 percent.

Today's mortgage rates on 15 year loans are averaging 2.99 percent. Bank  of Internet's 15 year mortgage rates were quoted at 2.50 percent with 1.50 points. Current refinance rates quoted on 15 year loans with zero points are at 3.125 percent.

Bank of Internet also quoted us 10 year refi rates. If you can afford the monthly payments on a short term loan like 10 year loans you will save a ton of money and own your home in no time. 10 year Bank  of Internet refinance rates were at 2.25 percent with 3.125 points. 10 year rates were also quoted at 3.125 percent with zero points.

5 year adjustable refinance rates were quoted at an unbelievably low rate of 1.75 percent with 2.50 points. 5 year adjustable refi rates were also quoted at 2.875 percent with zero points.

You can get your own mortgage quotes from Bank of Internet on the bank 's website. For a list of conforming mortgage rates from many different lenders use our rate tables here: Conforming Mortgage Rates.
Author: Lisa Graham
July 28th, 2012
Posted in: Bank Mortgage Rates