Compare Mortgage Interest Rates Today – Lowest VA and FHA Home Loans Increase with 10 Year Yield
Posted on | December 13, 2010 | No Comments
As millions of Americans are looking forward to the Christmas holiday it is the case that a large number of individuals will look to cut back and save a little bit of extra cash. One way to do this is to refinance a home loan before interest rates start to move up. Many Americans will likely look to compare mortgage interest rates today as they have seen VA and FHA home loan rates move higher with the 10 year treasury rate yield.
Over the last five weeks we have seen the 10 year treasury rate yield move up from 2.5% to 3.25%. This move higher has pushed 30 year fixed mortgage rates from 4.0% all the way up to 4.75%. With this being the case the lowest VA and FHA home loan interest rates have moved much higher.
Before making any assumptions when it comes to locking in the lowest mortgage interest rates today it is important to recognize that it takes a very impressive financial history. By having a credit score well above 740, a significant amount of home equity, and a very low debt to income ratio there many homeowners who will benefit greatly by saving extra money on low home loan interest rates.
By not meeting these requirements it will likely be the case that homeowners find 30 year fixed mortgage rates that are slightly higher. Even though this is the case it does not mean the homeowner should not go through the refinance process at the end of 2010 or beginning of 2011. The general rule is that homeowners must save at least one full percentage point to fully benefit from refinancing in covering closing costs.
Even though millions of Americans will likely spend quite a bit of money over the next two weeks there are also many who are going to look to save. By taking advantage of the lowest possible mortgage interest rates it could be the case that 2011 will offer much lower mortgage payments each and every month.
Author: Tiffany Mann
Tags: compare mortgage interest rates today > fha home loan rates > home loan mortgage rates > lowest va home loan rates > mortgage interest rates today > mortgage rates today
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