BAC - Average Lending Rate is 6% at Bank of America

Tickermine’s recent survey of 24 Bank of America branches around the country, determined that the current average lending rate is 6%. According to fourteen (58%) of the branches surveyed, this rate is up from the past 2 months. Three (13%) said that this rate was the same and seven (29%) said it was down. At fifteen (63%) Bank of America branches, the average loan size on a fixed rate single income family home was reported as between $120,000 - $200,000. Only two (8%) branches reported average loans higher than $400,000. The majority (75%) stated that default rates are up.

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