Today’s Lowest FHA Mortgage Rates – Refinance Interest Rates from Suntrust, Wachovia and Countrywide in January
Posted on | January 12, 2011 | No Comments
With many Americans looking for today’s lowest FHA mortgage rates it comes as no surprise to see many banks and financial institutions advertising rates below 5%. When looking for a refinance interest rates from some of the banks including SunTrust, Wachovia and Countrywide it is important to remember that there are multiple options available and it is wise to check the competition.
At the present time we are seeing 30 year fixed mortgage rates around 4.7% for a conventional loan. Many mortgage lenders have reported that 30 year fixed rates for an FHA mortgage are coming in very close to conventional mortgage rates. With this in mind it may be a wise decision to do a little bit of extensive research on the difference between the two mortgage types.
An important aspect of an FHA mortgage to remember is the fact that there are insurance obligations. While these insurance obligations are not overly expensive they can add up over time causing an FHA mortgage to be slightly more expensive. For this reason it may be wise to consider a conventional mortgage with a slightly higher interest rate as customers will be able to avoid insurance obligations.
With the advancements in technology is now the case that millions of Americans have access to free online resources that the government provides. By accessing the HUD website all Americans will be able to better understand the options when it comes to refinancing home loan to a very attractive mortgage interest rate.
As we get deeper and deeper into 2011 and will be very interesting to see how mortgage rates react to the overall economy. Almost all analysts feel that mortgage rates will start to move higher as the US economy improves. Unfortunately, it is nearly impossible to make a prediction on either the overall economy or mortgage rates as things could change very quickly.
Author: Jeremy North
Tags: countrywide refinance mortgage rates > lowest fha mortgage rates > refinance interest rates today > suntrust refinance mortgage rates > today's lowest fha rates > wachovia refinance mortgage rates
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