Compare Mortgage Interest Rates Today – November Refinance VA and FHA Home Loan Interest Rates Higher
Posted on | November 23, 2010 | No Comments
As the overall economy continues to struggle it is the case that the Federal Reserve Bank continues to take the necessary steps to keep refinance interest rates near all-time lows. For those looking to compare mortgage interest rates today they will likely find that 30 year fixed mortgage rates are around 4.3% for well-qualified borrowers.
November refinance VA and FHA mortgage interest rates have moved up as the 10 year treasury rate yield has moved higher during the month of November but it is still the case that home loan interest rates are at very attractive levels. When looking at historical charts of mortgage rates is quite obvious that we have not been in the low interest-rate environment for this long in the history of the United States housing market.
Taking advantage of low mortgage interest rates has saved some American homeowners hundreds of dollars a month on a mortgage payment. It is important to understand that it takes an amazing credit score and a very low debt to income ratio to have any opportunities at these currently low 30 year fixed mortgage interest rates.
It is also very important for homeowners to remember that there are closing costs involved in the refinance process. The general rule of thumb is that homeowners should save at least one full percentage point on their current mortgage rate to fully benefit from the refinance process. Without saving this one full percentage point and is often the case that closing costs outweigh benefits.
With millions of Americans struggling to make home loan payments it may be advisable to take advantage of the low interest rate environment. For those who do not qualify for these low interest rates there are other options including home loan modification which could also help reduce monthly mortgage payments. The Making Home Affordable website will help Americans better understand their options.
Author: Jeremy North
Tags: compare mortgage interest rates today > compare mortgage rates > mortgage interest rates today > november refinance va home loans > refinance fha loan rates > refinance va loan rates
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