Today’s Lowest Mortgage Interest Rates – Refinance Applications Pick Up as 30 Year Rates Hit 4.25% Today

Posted on | August 20, 2010 | No Comments

Today’s lowest mortgage interest rates are very attractive levels to most homeowners as many mortgage lenders are reporting that 30 year fixed rates are at 4.25%. It should come as no surprised to see refinance applications pick up as many Americans are looking to save a significant amount of money on their monthly mortgage payment.


Over the last few weeks almost 80% of mortgage applications have been to refinance. Look for this trend to continue as there are no government incentives for first-time home buyers to get into the market. It seems to be the case that many of these first-time homebuyers are sitting on the sidelines and hoping that there will be another first-time home buyer tax credit. At this time it does not look as if this is going to happen.

Almost all major mortgage lenders are reporting refinance mortgage interest rates under 4.5%. It is very important for customers to recognize that not all Americans will lock into rates this low. It will take an amazing credit score and a low debt to income ratio to have any chance to find today’s lowest mortgage interest rates.

Author: Heather Best

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