Todays Lowest Refinance Mortgage Interest Rates – Bank Loan Rates Hit 4.25% for 30 Year Fixed

Posted on | August 19, 2010 | No Comments

Today’s lowest refinance mortgage interest rates have recently hit all-time lows as bank loan rates are at 4.25% for the 30 year fixed mortgage. It is very important for most borrowers to understand that it will take a very good credit score, a significant amount of equity in a home, and a low debt to income ratio to have any opportunities to refinance below 4.5% in today’s economic environment.


With this being the case it is always wise for homeowners to do their research before making any final decisions. Even though we are seeing today’s lowest refinance mortgage rates below 5% it does not mean that all Americans can benefit. If a homeowner cannot refinance to at least one full percentage point below their current rate than it usually is not worth the time and effort as closing costs will outweigh the benefits.

With this in mind it is always wise to contact a mortgage lender and get an interest rate quote. While it is likely borrowers will not get a 100% accurate rate quote they will at least get a ballpark figure that will help them better understand refinancing is right in August of 2010.

Author: Mike Garner

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