Home Mortgage Loan Rates – Refinance 30 Year Fixed Rates Test All Time Lows Below 4.5% in July
Posted on | July 21, 2010 | Comments Off
Over the last several weeks we have continued to see refinance data come in extremely high. As home mortgage loan rates are very close to all-time lows many homeowners are looking to refinance to a 30 year or 15 year fixed mortgage rate very close to all-time lows.
In July of 2010 we are seeing 30 year fixed rates close to 4.5% and 15 year fixed rates near 4%. When looking at historical chart of mortgage rates you can clearly see that we are very close to all-time low levels. Many American homeowners can benefit greatly by refinancing to lower overall rates.
There many mortgage calculators available online to help homeowners better understand just how much money they can save by refinancing today. It is important for homeowners to remember that there are closing costs involved in refinancing and the general rule of thumb is that they must save at least one full percentage point.
By not saving one full percentage point homeowners will find that closing costs could outweigh the benefits of refinancing. Once again, there many free mortgage calculators to help better illustrate this point.
Author: Alan Lake
Tags: 30 year fixed rates > 30 year refinance rates > home loan rates > Home Mortgage Loan Rates > loan rates > mortgage loan rates > mortgage rates > Refinance Rates