Compare Mortgage Interest Rates Today – August 20 Refinance FHA, VA and Conventional Loan Rates Hit Lows

Posted on | August 20, 2010 | No Comments

With mortgage interest rates hitting new lows almost every day it should come as no surprise to see many homeowners looking to compare mortgage interest rates today. On August 20 we are seeing refinance FHA, VA and conventional home loans very close to all-time lows as the 30 year fixed rate is around 4.25%.


There are many Americans who stand to benefit greatly from the low interest-rate environment but it is important to recognize that not all Americans can lock into the lowest possible mortgage interest rates today. It takes a very impressive credit score, a low debt to income ratio and equity in a home loan to have any opportunities to refinance at the lowest rates available.

Over the last several weeks the majority of mortgage applications have been to refinance. In fact, almost 80% of applicants are looking to refinance while only 20% are looking to buy a new home. This comes as no surprise as there’re no government incentives for first-time homebuyers as there were in the recent past.

Author: Mike Garner

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