Home Mortgage Refinance Loan Rates – Fixed Interest Rates Jump to 4.75% Going Into December Weekend
Posted on | December 10, 2010 | No Comments
Home mortgage refinance loan rates have moved up quickly over the last four weeks as the 30 year fixed mortgage is currently at 4.75%. At the beginning of November 2010 fixed 30 year mortgage rates were around 4.0% but this was before the acceleration higher and the 10 year treasury rate yield. It will be very interesting to see if the Federal Reserve steps and to keep interest rates low.
Over the last few weeks we have seen the 10 year treasury rate yield move up from 2.5% on the way to 3.25%. This is one of the main reasons we have seen 30 year fixed mortgage rates move up significantly as well. Since 1971 the 10 year treasury rate yield and the 30 year fixed mortgage have had a very strong correlation. This will likely continue well into the future.
For Americans looking to go to the refinance process in December of 2010 it is very important to recognize that it takes an amazing credit history to receive low interest rate offers. By having a credit score that is well about 740 many homeowners will position themselves well when it comes to receiving low refinance rate quotes from mortgage lenders.
For the Americans who have made bad financial decisions in the recent past which in turn has pushed their credit score down it is going to be extremely difficult to lock in to the lowest possible mortgage interest rates. By making certain that all bills are paid on time and in full American homeowners can save themselves a significant amount of money in the future.
Remember that there are many mortgage lenders spread throughout the country they can help homeowners locked into the lowest possible rate. By doing research online most homeowners will find that there are lenders at the local, regional and national level that offer great customer service with attractive interest rate offers.
Author: Heather Best
Tags: fixed 30 year interest rates > fixed home loan rates > fixed interest loan rates > Home Mortgage Loan Rates > home mortgage refinance loan rates > home mortgage refinance rates
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