Today’s Lowest Mortgage Interest Rates – Refinance Trends Turn Up for Home Loan Interest Rates at 4.4% in November
Posted on | November 19, 2010 | No Comments
Over the last week and a half we have seen the 30 year fixed mortgage rate move all the way up from 4% to 4.4%. When looking for today’s lowest mortgage interest rates it is now the case that borrowers are finding that interest rates are well off their all-time lows that were available in the earlier part of November.
Even though this is the case there are still many great opportunities to save money by going to the refinance process in November of 2010. When looking at a chart of historical mortgage interest rates is quite obvious that we are still very close to all-time low levels. With these opportunities still available many homeowners have the chance to save hundreds of dollars on a home loan payment.
It is very important for homeowners to understand that it takes a very impressive credit score and a low debt to income ratio to have any opportunities that these currently low mortgage interest rates. A credit score above 740 and a debt to income ratio sub 40% is almost necessary to lock in to today’s lowest mortgage interest rates.
Many analysts have predicted that refinance trends are going to change in the very near future as mortgage rates could move higher. The Federal Reserve Bank has done everything possible to keep interest rates low but eventually the markets are going to set rates which means that they will likely move up. This may not be in the near future but it will happen over the course of time.
Instead of waiting for 30 year fixed mortgage rates to get back down to 4% it may be very smart to take advantage of the rates at current levels. Even though mortgage rates are up 4.4% is still a great opportunity to refinance for those who have made strong financial decisions over the last several years.
Author: Heather Best
Tags: lowest mortgage interest rates today > lowest mortgage rates > lowest refinance rates > mortgage interest rates today > mortgage refinance rates today > today's lowest mortgage rates
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