FHA Mortgage Interest Rates Hit 4.25% for Refinance 30 Year Fixed – Homeowners Look to Compare Loan Rates Today
Posted on | August 17, 2010 | No Comments
Over last few days we have seen FHA mortgage interest rates hit all-time low. Recently we have seen a 30 year refinance fixed mortgage rate it 4.25% when it comes to conventional mortgage rates. With many mortgage lenders reporting conventional rates coming in very close to FHA rates it will come as no surprise to see American homeowners look to compare FHA mortgage refinance rates today.
Most homeowners realize that it takes a very good credit score and a significant amount of home equity to have any opportunities to refinance the low rates. The general rule of thumb is that the homeowners must have a credit score above 740 and the debt to income ratio is below 40% have any opportunity to lock into a 30 year refinance rate at 4.25%.
Unfortunately, there are many Americans who have made bad financial decisions in the recent past and it is going to come back to haunt them in the form of higher interest rate offers. Even if Americans can’t lock in to the lowest FHA mortgage interest rates that are still opportunities to save as the general rule of thumb is that homeowners must save one full percentage point the benefit from refinancing.
Author: Alan Lake
Tags: 30 year fixed rates > 30 year fixed refinance rates > fha mortgage interest rates > fha rates > mortgage interest rates > refinance fha rates > Refinance Rates
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