Today’s Lowest Mortgage Interest Rates – 30 Year Fixed Rates Around 4.5% for Well Qualified Borrowers on May 26
Posted on | May 26, 2010 | Comments Off
Today’s lowest mortgage interest rates are very close to all-time lows as 30 year fixed rates are around 4.5%. It is very important to note that these rates are only available to well-qualified borrowers. If you have a credit score that is well below 740 or little home equity and you would not be considered a well-qualified borrower.
Over the next several months it will be very interesting to see where mortgage interest rates go is the European debt crisis has helped push rates to levels never seen before. As long as the 10 year treasury rate yield continues to move lower we can fully expect to see 30 year fixed rates drop as well.
Most major mortgage lenders are reporting that mortgage rates are very close to 4.5% on May 26, 2010. Most of these mortgage lenders will allow you to get preapproved for a specific mortgage interest rate. It would be wise to do this before making the assumption that you will qualify for a rate below 5%.
It is also the case that 15 year fixed mortgage rates are very close to an all-time low. At the present time we are seeing 15 year fixed rates as low as 4% which could save a significant amount of money for many homeowners.
Author: Alan Lake
Tags: 30 Year Fixed Mortgage Rates > 30 year fixed rates > 4.5% mortgage rates > interest rates > low interest rates > lowest interest rates > lowest mortgage rates > mortgage interest rates