Compare Mortgage Interest Rates Today – Low VA, FHA and Conventional Home Loan Interest Rates in the Past as Rates Move Up
Posted on | December 14, 2010 | No Comments
As we get closer and closer to 2011 it is the case that millions of Americans are finding that mortgage interest rates are moving up very quickly. For those looking to compare mortgage interest rates today it will likely be the case that most people find that low FHA, VA and conventional home loan interest rates are a thing of the past as the 10 year treasury rate yield has moved up very fast.
Since the beginning of November we have seen the 10 year treasury rate yield move from 4.0% of the way up to 4.75%. This quick six-week move is very surprising as it usually takes mortgage rates much longer to move up three quarters of a percentage point. Unfortunately, many Americans may have missed out on a great opportunity to refinance a home loan.
The general rule of thumb is that homeowners should save at least one full percentage point to fully benefit from the refinance process and now that mortgage rates are accelerating towards 5% it may be the case that many homeowners do not have this opportunity. It is also true that it takes an amazing credit score and a very low debt to income ratio to lock in the lowest possible rates and many customers have seen their credit score drop over the last few years.
As we get closer to Christmas 2010 it is likely the case that most people are not thinking about personal finances such as home loans. Even though this is the case they are still others that are looking to save as much money as possible before doing all of their holiday shopping. With this being the case it should come as little surprise to see many Americans looking to compare mortgage interest rates today in hopes of having an opportunity to lock in the once low fixed mortgage rates.
Author: Alan Lake
Tags: compare mortgage interest rates today > conventional mortgage interest rates > home loan interest rates > low fha home loan rates > low va home loan rates > mortgage interest rates today
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