Today’s Lowest Mortgage Interest Rates – 10 Year Yields Push Refinance 30 Year Home Loan Interest Rates Higher in November
Posted on | November 17, 2010 | No Comments
As the 10 year treasury rate yield continues to move higher it is the case that refinance 30 year fixed mortgage rates have moved up as well. When looking for today’s lowest mortgage interest rates most homeowners will find that the 30 year fixed mortgage has moved all the way up to 4.35%.
Just a week ago 30 year fixed mortgage rates were as low as 4% but this move up in the 10 year yield has helped push mortgage rates higher. Each and every time mortgage rates and start to move up is the case at the Federal Reserve Bank takes the necessary steps to keep interest rates low. It will be very interesting to see if this is the case in November of 2010 as many economists fear that the economy will continue to struggle.
As long as the overall economy remains stagnant it will be the case that the federal reserve bank will do everything possible to ignite growth. One of the best ways that they had come with up to do this is to keep interest rates low for an extended period of time. This will let businesses and individuals take advantage of cheap money to borrow.
Until the overall economy sees strong growth for several consecutive quarters it will likely be the case that today’s lowest mortgage interest rates remain below 5% for the 30 year fixed. With this being the case a large number of homeowners stand to benefit greatly from going through the refinance process and while wearing a monthly mortgage payment.
Unfortunately, it is the case that lenders are very strict with their practices and it will take a very impressive credit score and the low debt to income ratio to have any opportunity at these low rates. Plan on having a credit score above 740 and a debt to income ratio below 40% the lock-in to today’s lowest mortgage interest rates in November of 2010.
Author: Mike Garner
Tags: 10 year yields > 30 year fixed mortgager > lowest mortgage interest rates > mortgage interest rates today > refinance fixed rates > today's lowest rates
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