Today’s Lowest Mortgage Interest Rates – March Refinance Rates Low
Posted on | March 7, 2010 | No Comments
Today’s lowest mortgage interest rates are around 4.8% for the 30 year fixed mortgage rate and 4.25% for the 15 year fixed mortgage rate. Even though many analysts have predicted higher mortgage rates soon March refinance rates remain low. Please understand that each individual will qualify for a unique mortgage rate.
If you have a credit score that is above 740 and you have a large amount of equity in your home then you have a very good opportunity to refinance your current home loan to a rate below 5%. This could end up saving you hundreds of dollars on your monthly mortgage payment. There are many mortgage calculators online to help you figure out how much you will save.
The general rule is that you must save at least one full percentage point to benefit from refinancing. By getting a mortgage interest rate that is one percent below your current rate you will not only see savings in the near future but you will also cover closing costs very soon. Make sure to factor closing costs into your equation.
Finding today’s lowest mortgage interest rates is easier now that it has ever been. Most mortgage lenders will allow you to speak to a representative through live chat or via the telephone. These representatives can help you determine what mortgage rate you are likely to qualify for.
Author: Alan Lake
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