Compare Mortgage Interest Rates Today – Finding Low VA, FHA and Conventional Home Loan Interest Rates Much Harder in December
Posted on | December 15, 2010 | No Comments
Throughout the entire month of November and much of December we have seen the 10 year treasury rate yield accelerate higher which is making it very hard for homeowners to find low VA, FHA or conventional mortgage rates. Those looking to compare mortgage interest rates today have found that it is very difficult to lock in to rates below 4.5%.
Since the beginning of November we have seen 30 year fixed mortgage rates move from 4.0% all the way up to 4.75%. This quick move higher has caused many Americans to think twice when it comes to refinancing home loan during the last month of 2010. Mortgage refinance activity is generally very slow during December but it is even more slow this year as mortgage rates have moved up quickly.
Taking the time and effort to do a significant amount of research could prove to be greatly beneficial when it comes to locking in the lowest FHA, VA or conventional rates. It is important to remember that there are insurance obligations that come with an FHA mortgage so customers are urged to include these in the calculations when making a final decision.
Luckily, there are many free mortgage calculators available online that can help homeowners better understand which mortgage type is best for specific financial situation. When going through the process of comparing mortgage interest rates today it is important to remember which mortgage type will work best for a specific financial lifestyle.
As we get closer and closer to 2011 it will likely be the case that many people create New Year’s resolutions related to personal finances. With this in mind it will likely be true that many people look to go to the refinance process in January or February in hopes of saving a little bit of extra cash during the early part of 2011.
Author: Alan Lake
Tags: compare mortgage interest rates > home interest loan rates > home loan interest rates > low fha home loan rates > low va home loan rates > mortgage interest rates today
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