Today’s Lowest Mortgage Interest Rates – Home Loans for 30 Year Fixed Rate Around 4.5% in June
Posted on | June 29, 2010 | Comments Off
Today’s lowest mortgage interest rates have been quoted around 4.5% for the 30 year fixed mortgage. Home loans being very close to all-time lows it should come as no surprise to see many Americans looking to save money by locking into a lower mortgage interest rate today.
Before assuming that all Americans will have an opportunity to lock in today’s low rates is extremely important to understand that mortgage lenders are looking for the best borrowers when it comes to qualifying for the lowest possible interest rates. You will need a credit score above 740 and the debt to income ratio that is below 40% to lock in low rates.
With this in mind it would be very smart to make sure your financial history is clean. By accessing your credit report you will be able to better understand what lines of credit you have outstanding and if there are any inaccuracies or errors on your credit report. If there are mistakes on your credit report it would be wise to get them fixed as soon as possible.
By having a very high credit score in the low debt to income ratio you will likely have the ability to refinance a very low home loan rates. Some borrowers may even qualify for a mortgage interest rate that is under 4.5%.
Author: Jeremy North
Tags: 30 Year Fixed Mortgage Rates > home loan rates > low home loan rates > mortgage interest rates > mortgage interest rates today > mortgage loan rates > todays lowest mortgage interest rate