Today’s Lowest FHA Mortgage Rates – Refinance Fixed Housing Rates Drop to New 2011 Lows
Posted on | January 13, 2011 | No Comments
With many Americans looking to save as much money as possible in these troubled economic times it comes as no surprise to see many individuals looking for today’s lowest FHA mortgage rates. When it comes to refinance fixed housing rates it is currently the case that 30 year fixed rates are at 2010 lows around 4.6%.
For much of 2010 we saw 30 year fixed mortgage rates well below 5% which in turn allowed many Americans to refinance to the lowest possible interest rates available. During the end of the year 30 year fixed mortgage rates moved all the way up to 5.25% but recently we have seen them drop back to well below the 5% mark.
It is important to remember that an FHA mortgage comes with insurance obligations which can sometimes outweigh the benefits. With this in mind it is always a good decision to consider a conventional mortgage rate with a slightly higher interest rate as homeowners will be able to avoid these insurance costs and possibly save money.
Luckily, there many free mortgage and financial calculators available online to help homeowners better understand which mortgage is right for a specific financial situation. It is also true that most mortgage lenders have some type of live chat or Twitter answering service that will answer questions as soon as possible. This is imperative when it comes to the refinance process as most homeowners want answers as quickly as possible.
Taking the time and effort to complete due diligence and a significant amount of research always proves beneficial when it comes to making personal finance decisions. With the advancements in technology and is now the case that almost all homeowners have the ability to do research online from the comfort of their home or office. Not only will this save a significant amount of time but it could also save quite a bit of extra money.
Author: Mike Garner
Tags: 2011 lowest fha rates > 2011 lowest mortgage rates > lowest fha mortgage rates > lowest fixed housing rates > lowest refinance fha rates > todays lowest fha mortgage rates
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