Today’s Lowest FHA Mortgage Rates – Refinance Interest Rate Quotes Move Up Even for Good Credit Borrowers
Posted on | December 9, 2010 | No Comments
As we get closer and closer to 2011 it is the case that many American homeowners are finding that mortgage rates are moving up quickly. When looking for today’s lowest FHA mortgage rates most homeowners are seeing 30 year rates around 4.75% even if they have a very good credit score and a low debt to income ratio.
It is generally the case that good credit borrowers receive a much lower mortgage interest rate quote due to their very strong financial background. Even though Americans have made very good financial decisions in the last several weeks, months and even years and may be the case that interest rate quotes rise as the 10 year treasury rate yield is moving up.
This comes as no surprise as the 10 year treasury rate yielded 30 year fixed mortgage rates have had a very strong correlation since 1971. The strong correlation will likely continue into 2011 and could even strengthen due to the fact that the federal reserve bank will take their foot off the accelerator when it comes to keeping rates low.
When homeowners are looking for the lowest refinance interest rate quote it is very important to recognize that a financial history will greatly determine a home loan interest rate. By having a very impressive credit score that is well above 740 and equity in a home they will position many homeowners in a very good spot when it comes to receiving the lowest possible FHA refinance rate quotes.
Even though rates have moved up over the last several weeks that is still the case that they are historically low when looking at a long-term chart. Never have we seen 30 year fixed mortgage rates below 5% for such an extended period of time in the history of the United States housing market. It may still be very possible for homeowners to save if they take the necessary steps during the end of 2010.
Author: Mike Garner
Tags: fha mortgage rates today > fha refinance interest rates > refinance interest rate quotes > refinance interest rates > refinance lowest fha quotes > todays lowest fha mortgage rates
Comments
Leave a Reply