Today’s Lowest Mortgage Interest Rates – Refinance Rates for Borrowers with a Credit Score Above 740 in July 2010
Posted on | July 12, 2010 | Comments Off
Today’s mortgage interest rates are at very attractive levels for borrowers who have a credit score above 740. The average for 30 year refinance rates is currently around 4.5% for those who have a very good credit score and a debt to income ratio below 40%. It is also important to have equity in your home.
By doing your research online you will likely find many mortgage lenders in your area that can help you to lock in to low mortgage interest rates under 5%. It is important to remember that not all Americans will have the opportunity to lock in to refinance rates at this level.
If you have made bad financial decisions in the past then it is likely the case that you will see higher interest rate offers. To get the lowest possible rates you must have made sure all your bills were paid on time and in full over the last several years. Missing bill payments likely hurt your credit score.
In the last few weeks we have seen refinance data show that many Americans are submitting refinance applications. With 30 year fixed mortgage rates under 5% at the present time this comes as not great surprise.
Author: Alan Lake
Tags: credit score rates > mortgage interest rates > mortgage interest rates today > mortgage rates > mortgage rates credit score > refi rates > Refinance Rates > today's lowest mortgage interest rates