Compare Mortgage Interest Rates Today – Refinance FHA, VA, Fixed and ARM Rates Sink to Lowest Levels in 2010
Posted on | August 27, 2010 | No Comments
With refinance FHA, VA, fixed and ARM rates neat the lowest levels of 2010 it comes as no surprise to see many Americans looking to compare mortgage interest rates today. Before making any assumptions that all borrowers will be able to lock in to low 30 year fixed mortgage rates it is important to recognize that it will take a great credit score and a low debt to income ratio to get these low rate offers.
Many Americans stand to benefit greatly from the current low interest rate environment. Some borrowers are finding that they can save hundreds of dollars a month on a mortgage payment. The general rule of thumb is that homeowners must save at least one full percentage point to have any chance to benefit from the refinance process.
If borrowers cannot save the full percentage point then it is usually the case that closing costs outweigh the benefits. With this in mind it is always wise to make certain that a credit score is well above 700 to get the best rates. It also helps to have a debt to income ratio that is well below 40%.
Author: Jeremy North
Tags: compare mortgage rates > mortgage interest rates today > refinance fha rates > refinance fixed rates > Refinance Rates > refinance va rates
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