Home Mortgage Refinance Loan Rates – 30 Year Fixed Interest Rates Drop to Lowest Historical Levels
Posted on | September 23, 2010 | No Comments
Home mortgage refinance loan rates continue to attract many American homeowners is 30 year fixed interest rates have dropped to historical lows in September of 2010. At the present time we are seeing 30 year fixed rates as low as 4.2% for well-qualified borrowers. It is important or a member that a well qualified borrower usually has a credit score above 740 and a very low debt to income ratio.
Over the last several weeks it has been the case that the majority of mortgage applications have come in as refinance mortgage applications. This is no surprise as many first-time home buyers continue to sit on the sidelines and hope for another government tax incentive or for home prices to continue to stabilize and possibly even move higher.
Instead of catching a falling knife it would be better for homeowners to consider waiting until home prices have completely bottomed. Unfortunately, it does not look as if this has happened as the unemployment rate remains above 9.5% and many Americans continue to struggle to make ends meet when it comes to personal finances.
Author: Tiffany Mann
Tags: 30 year fixed rates > 30 year rates > fixed loan rates > Home Mortgage Loan Rates > interest rates > mortgage rates > mortgage refinance rates > refinance loan rates
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