Fixed Refinance Interest Rates – 30 Year and 15 Year Fixed Mortgage Rates Drop to 2010 Lows on May 27, 2010
Posted on | May 27, 2010 | Comments Off
Over the last several days many Americans have searched for a fixed refinancing interest rate in hopes of saving a significant amount of money. Both 30 year and 15 year fixed mortgage rates are very close to all time lows and are currently at 2010 lows. The 30 year fixed rate has been quoted as low as 4.5%.
It is very important for current homeowners to understand that not everyone will qualify for a mortgage interest rate this low. You will need a signifiant amount of home equity and a very impressive credit score above 740 to have any chance to refinance to an interest rate below 5%.
With there being great competition in this industry it is important to make certain that you exhaust your resources before selecting a mortgage lender. With multiple lenders in most areas of the country it should not be hard to find a company that is willing to work very hard for you.
Fixed refinance interest rates are now at historical lows but this is something that may not last for long. The European debt crisis is the main reason we are seeing low mortgage interest rates which means that when this gets resolved we could see interest rates start to move much higher.
Author: Jeremy North
Tags: 15 year fixed mortgage rates > 30 Year Fixed Mortgage Rates > fixed mortgage rates > fixed refinance interest rates > interest rates > mortgage rates