Compare Mortgage Interest Rates Today – Lowest VA and FHA Home Loans Still Below 5% for Some Borrowers
Posted on | December 17, 2010 | No Comments
As we get closer to a new year it will likely be the case in many American homeowners are looking to save as much money as possible. One way to do this is to refinance to the lowest possible home loan interest rate but it often takes quite a bit of research to do so. Many homeowners will look to compare mortgage interest rates today to find opportunities to save.
The month of December is usually very slow when it comes to VA, FHA and conventional home loan interest rate applications. Most Americans are more concerned with the Christmas holiday and spending time with loved ones rather than worrying about personal finances. This changes greatly when the new year rolls around and many people are looking to save as a New Year’s resolution.
At the present time we are seeing 30 year fixed mortgage rates around 4.8% as the 10 year treasury rate yield has dropped over the last two days. Even though 30 year fixed mortgage rates have moved up drastically over the last six weeks it is still the case that they are very attractive when it comes to refinancing home loan for many American homeowners.
The general rule of thumb is that homeowners should save at least one full percentage point to benefit from the refinance process at any time. By not saving the one full percentage point it is often the case the closing costs outweigh benefits and homeowners end up wasting time and money.
When finding the lowest VA and FHA home loan interest rates it is important to remember that it takes an amazing financial history to lock into these quotes. By having a credit score that is about 740 and a debt to income ratio that is well below 40% many American homeowners stand to benefit greatly from the current low interest rate environment.
Author: Jeremy North
Tags: compare mortgage interest rates > fha home loan rates > home loan interest rates > lowest mortgage interest rates > lowest va home loan rates > mortgage home loan rates > mortgage interest rates today
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