Compare Mortgage Interest Rates Today – FHA, VA and ARM Rates Near All Time Lows on June 29
Posted on | June 29, 2010 | Comments Off
With mortgage rates extremely close to all time lows it should come as no surprise to see Americans looking to compare mortgage interest rates today. FHA, VA and ARM rates are very close to all time lows as most mortgage lenders are reporting the 30 year fixed mortgage rate at 4.5% or lower.
It is very important to remember that not all borrowers will have the opportunity to lock in to low rates with a bad credit score. To get the lowest possible mortgage interest rates you will need a credit score that is 740 or above. Without this credit score you will see higher interest rate offers.
Even if you cannot lock in to the lowest possible mortgage interest rates it does not mean that you cannot save money. There are many mortgage calculators online that can help you better understand how much you can save by gaining access to a lower interest rate than you are currently paying on.
With FHA mortgage rates coming in very close to conventional mortgage rates you can expect to see 30 year fixed FHA rates below 5%. FHA mortgages come with insurance obligations so make sure to realize this before making any final decisions on a mortgage type.
Author: Mike Garner
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