Subprime Blogger » Low Mortgage Rates

Lowest 30 Year Fixed Mortgage Rates in History Reported – 15 Year Fixed Rates Under 3.9% Today

admin — Sat, 07 Aug 2010 21:01:12 +0000

The lowest 30 year fixed mortgage rates in history have been reported over the last few weeks as 30 year fixed rates are around 4.5% or lower and 15 year fixed mortgage interest rates are around 3.9%. It is very important for borrowers to remember that these rates are for individuals who have been very good with their personal finances in the past and have made certain that they increase their credit score each and every month.

With a credit score above 740 and a debt to income ratio that is below 40% borrowers will likely find great opportunities when it comes to low mortgage interest rates. Qualifying for the lowest mortgage interest rates available will take a great personal balance sheet. Unfortunately, during the “Great Recession” many Americans have not been able to keep their personal balance sheet clean.

No matter what the case, interest rates are the lowest they have ever been. Even without a great credit score many Americans have the ability to lock in to rates that will greatly benefit them with lower monthly payments. All customers are urged to do their research before making any final decision with a home loan.

Author: Alan Lake

30 Year Fixed FHA Refinance Rates Reported at New Lows by Freddie Mac – Loan Rates at 4.5%

admin — Fri, 06 Aug 2010 18:08:28 +0000

The average for 30 year fixed FHA refinance rates has hit an all time low as Freddie Mac has reported that conventional 30 year rates were under 4.5% for the first time last week. To top this off, home loan rates have dropped even more this week so it could be the case that the data shows even lower rates in the weeks ahead.

Many Americans continue to search for low interest rates and many are finding them. The current and future homeowners are finding out quickly that it takes a very good credit score and a low debt to income ratio to have any opportunity to lock in to low 30 year fixed FHA rates in the current economic environment.

Without these requirements borrowers are finding that low interest rates are available but not at the historic low levels that are being reported by major mortgage lenders and Freddie Mac. Over the next few weeks it will be interesting to see just how many refinance applications are submitted as many Americans are becoming aware of the fact that mortgage rates are at the lowest levels in history.

Author: Alan Lake

Today’s Low Home Loan Mortgage Rates Help Americans Save by Refinancing but Unemployment Remains an Economic Issue

admin — Tue, 03 Aug 2010 14:20:44 +0000

Today’s low home loan rates have helped many Americans save by refinancing but unfortunately these low rates are not the hot topic as the high unemployment rate continues to be a huge economic concern. For quite some time many analysts and economists have stated that the high unemployment rate for an extended period of time could very well cause a double dip recession and we could be seeing that in the very near future.

It seems to be the case that the rich get richer and the poor get poorer as those who have a great credit score and equity in their homes have the opportunity to refinance to a much lower mortgage payment. It is often the case that these individuals who have made smart financial decisions are not the ones who truly need to save this extra money. Those who are currently unemployed or struggling to make ends meet with personal finances need the savings more but they do not have the credit score nor the funds to pay for a home refinance.

This will continue to be the case as long as the unemployment rate remains high. The outlook does not look great for jobs as many large businesses continue to streamline and cut back to make their balance sheets look better. Many feel that it is going to take small business hiring to truly get the economy back in gear but only time will tell.

Author: Mike Garner

Daily Mortgage Interest Rates Today for July 23 – Afternoon Update – Refinance Loan Rates at Lowest 2010 Levels

admin — Fri, 23 Jul 2010 18:30:28 +0000

This morning we mentioned that the 10 year treasury rate yield was .75% higher will will eventually affect mortgage interest rates. Now we are seeing the 10 year yield up 1.75% which is sure to push daily rates higher sometime in the future. At the present time we continue to see refinance home loan rates at their lowest levels of 2010. The afternoon update for daily mortgage interest rates today on July 23 is as follows:

30 Year Fixed Mortgage Rates – 4.34%

15 Year Fixed Mortgage Rates – 3.86%

While rates have not adjusted to a higher 10 year treasury rate yield it will eventually happen. If the 10 year yield continues to move even higher next week then we will likely see a slight bounce in both the 30 year and 15 year fixed mortgage rates. Only time will tell what will happen but the weekend is sure to be very slow. We will report one weekend update sometime this weekend but do not expect much change in mortgage interest rates.

Author: Heather Best

Today’s Lowest Mortgage Interest Rates – Low Refinance Rates for Borrowers with a Good Credit History Report

admin — Thu, 15 Jul 2010 12:15:00 +0000

Today’s lowest mortgage interest rates are slightly off all-time lows but the 30 year fixed mortgage is very close to 4.5%. It is important to remember that low refinance rates are often only available to borrowers with a very good credit history report. If you have missed many bill payments in the recent past than it is going to be extremely hard to receive low mortgage interest rate offers.

Over the last several months we have seen 30 year fixed mortgage rates dropped from 5% to 4.5%. This .5% drop could end up saving some Americans hundreds of dollars a month on their mortgage payment. There are many mortgage calculators available online to help better illustrate how much money can be saved by refinancing in the current economic environment.

With many mortgage lenders working very hard to advertise low rates it should not be difficult to find a lender in your area. It would be a wise decision to exhaust your resources when it comes to mortgage lenders as this is a very competitive industry and you will want to work with the bank or lending institution who works hard for you as well.

Author: Mike Garner

Low Refinance Mortgage Interest Rates for FHA Streamline Refi Loans – HUD and Government Housing Assistance

admin — Tue, 13 Jul 2010 22:22:31 +0000

Low refinance mortgage interest rates are currently available on FHA streamline refund loans for borrowers with a decent credit score. It is important to remember that to lock-in the low home loan rates you must have an impressive credit score above 740. HUD and government housing assistance has helped many Americans lock in low rates.

Before making any final decision on an FHA streamline refinance it is important to understand your financial situation. If you have not checked your credit history report and over one year and may be wise to do so today. At the present time there is a free annual government credit report available at annualcreditreport.com.

if there are errors or mistakes on your credit report it would be a very smart decision to address these issues as soon as possible. By having errors or inaccuracies on your credit report you could end up losing a significant amount of money as you will receive higher interest-rate offers.

With an annual credit report being completely free there is no reason that Americans should not take advantage of this opportunity. It is important to remember that this free annual credit report does not, with a free credit score at the present time.

Author: Mike Garner

Mortgage Refinance Appraisal Too Low Causing Application Issues for Obtaining Low Mortgage Interest Rates

admin — Wed, 07 Jul 2010 19:34:04 +0000

A mortgage refinance appraisal that comes in much lower than expected is sure to cause many application issues when it comes to locking in to the lowest possible mortgage interest rates. Many Americans have seen their home values drop greatly over the last few years but some do not realize just how much.

Over the last three years many housing markets have seen steep drops. If a homeowner has not had their home appraised in quite some time they may find that the refinance appraisal comes in much lower than expected which makes it very hard for those borrowers to gain access to the historically low mortgage rates.

The only way to truly combat this issue is to put more equity into your home. Unfortunately, many Americans do not have the ability to sink tens of thousands of dollars into their homes at any given time. With this being the case some homeowners do not have the chance to refinance to rates under 5%.

Even if you have an amazing credit score and a low debt to income ratio it is still the case that you will need to have equity in your home. If you have not had your home appraised in quite some time then it might be wise to do so today.

Author: Jeremy North

Today’s Lowest Mortgage Interest Rates – 15 Year Fixed and ARM Home Loan Rates Near All Time Lows

admin — Tue, 06 Jul 2010 12:15:13 +0000

Today’s lowest mortgage interest rates are very close to all-time lows as the 15 year fixed mortgage and arm rates are seeing levels we have never seen in the history of the United States housing market. At the present time 15 year fixed mortgage rates are below 4% which is a very attractive level.

With many Americans working very hard to save more than they spend it may come as no surprise to see people looking for today’s lowest mortgage interest rates. Are refinancing to a lower overall rate there’s a very good opportunity you could save a significant amount of money on your monthly mortgage payment.

There are many mortgage calculators available online to help you better understand just how much money you can save by locking into a low refinance rate. Make sure to take the time and effort to do a significant amount of research before making any final decisions when it comes to a home loan.

There are many mortgage lenders spread throughout the country that can greatly assist you when it comes to getting low mortgage rates. Please do not feel that you are limited to just a few of the larger mortgage lenders. With the advancements in technology and is much easier to find low rates.

Author: Mike Garner

Low Mortgage Rates Do Not Help May Pending Home Sales – National Association of Realtors Reports 30% Drop

admin — Thu, 01 Jul 2010 15:31:49 +0000

Mortgage interest rates have been very low for the entire year of 2010 but after the expiration of the first time home buyer tax credit and move up home buyer tax credit we have seen a steady drop in home sales. The National Association of Realtors has reported that May pending home sales dropped 30%.

This 30% drop comes on the heels of a 23% rise between January and April of 2010. The pending home sales index was down 15.9% when compared to one year ago. This is a troubling sign for the overall economy but was predicted by many analysts with the expiration of the tax credits.

Just recently we learned that the first time home buyer tax credit will be extended through September 30th, 2010 for those who were under contract by April 30th, 2010. If buyers were not under contract they will not have an opportunity to get the tax credit for $8000.

The overall economy is greatly affected by home sales and home prices. If home sales and home prices continue to decline then there is a good chance that the economy will struggle for the next several months. Unfortunately, Americans need even more incentives to buy a home in 2010.

Author: Alan Lake

Low Mortgage Interest Rates on June 29th, 2010 – Mortgage Lenders Offering Low Rates on Adjustable and Fixed Mortgages

admin — Tue, 29 Jun 2010 22:03:41 +0000

Low mortgage interest rates seem to be here to stay on June 29th, 2010. Mortgage lenders across the United States are offering low home loan interest rates for adjustable and fixed rate mortgages. At the present time we are seeing the 30 year fixed mortgage being quoted under 4.5%.

Before assuming that all Americans will be able to qualify for mortgage interest rates this low it is very important to understand that it takes a very impressive credit score and a low debt to income ratio to have any opportunity to lock in to 30 year fixed mortgage rates under 5%.

By doing your research online you will likely find many mortgage lenders in your area that can help you to lock in to low interest rates. Make sure to understand that you will need a credit score above 740 to have any chance to lock in to the lowest possible mortgage interest rates.

Unfortunately, with a higher credit score you are likely going to find it very difficult to lock in to a low mortgage interest rate. This does not mean that you cannot save money, it just means that you will not have the same opportunities as borrowers who have made strong financial decisions in the past.

Author: Heather Best