Today’s Lowest Mortgage Interest Rates – 30 Year Fixed Rates at 5% at the End of April 2010
Posted on | April 26, 2010 | Comments Off
Today’s lowest mortgage interest rates are right at 5% for the 30 year fixed mortgage. For much of April we have seen 30 year fixed rates very close to 5% with the high being 5.15% and the low being 4.75%. It will be very interesting to see how mortgage rates react over the next few months.
Many analysts feel strongly that mortgage rates are likely going to rise in the near future. With the Federal Reserve Bank no longer purchasing mortgage backed securities and the 10 year treasury rate yield in a very strong up trend it will come as no surprise to see mortgage rates make a run at 6%.
If you have been thinking about locking in to a low mortgage interest rate then it would be wise to take action now rather than wait. If you continue to wait there is a very good chance that the 30 year fixed mortgage rate could be close to 6% than 5%. This could means hundreds of dollars when it comes to a monthly mortgage payment.
To lock in to today’s lowest mortgage interest rates you will want a very good credit score, above 740, and a debt to income ratio that is below 40%. If you do not meet these requirements you are going to find that you qualify for a higher mortgage rate.
Author: Alan Lake