Today’s Lowest Mortgage Interest Rates – Refinance Fixed Home Loans Around 4.65% for 30 Year
Posted on | January 11, 2011 | No Comments
Today’s lowest mortgage interest rates remain a very attractive levels as the 30 year fixed mortgage rate is around 4.65%. For the entire year of 2011 we have seen 30 year refinance fixed home loan rates between 4.55% and 4.75%. This is a very narrow range considering that 30 year fixed mortgage rates were between 4.0% and 5.25% in November and December of 2010.
When it comes to locking in the lowest mortgage interest rates today it is very important to remember that it takes an amazing credit score. By having a credit score that is well below 740 it can be very difficult for homeowners to have any opportunity to lock in mortgage rates well under 5%.
Unfortunately, a growing number of Americans have seen their credit score drop over the last several years as the overall economy has greatly struggled. Instead of addressing financial issues many of these individuals continued to make minimum payments on credit cards and personal loans which makes it extremely difficult to get out of high interest rate debt issues.
Rather than allowing these debt issues to build it is always a wise decision to pay much more than the minimum payment. By paying off credit cards each and every month it will likely be the case that a credit score begins to increase as customers prove that they are worthy of borrowing large amounts of money. By not doing so lenders will feel that these individuals do not have strong financial practices.
There many mortgage lenders spread throughout the country that can help homeowners when it comes to receiving low interest rate offers. When looking to refinance remember that it usually takes a great credit score, equity in a home, and a very low debt to income ratio to get anywhere with this process. It is also important to remember that it takes a one percentage point savings to outweigh closing costs in the future.
Author: Mike Garner
Tags: home loan interest rates > home loan rates toay > lowest mortgage interest rates > mortgage interest rates today > refinance fixed home loans > today's lowest mortgage interest rates
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