Compare Mortgage Interest Rates Today – 1/18 Refinance VA and FHA Home Loan Rates Remain Low for Homeowners
Posted on | January 18, 2011 | No Comments
As mortgage rates continue to remain very close to all-time lows it is no surprise that many homeowners are looking to compare mortgage interest rates today. On January 18, 2011 we are currently seeing VA and FHA home loan interest rates near monthly lows. The conventional 30 year fixed rate is around 4.6% which is very attractive for most borrowers.
It is very important to remember that it takes an impressive financial history to have any opportunity to lock in to the lowest possible rates. Unfortunately, many Americans have seen their credit score dropped over the last several months and years as the overall economy has struggled with an unemployment rate above 9%.
Even if customers do not have the best possible credit score it does not mean that they cannot save from refinance mortgage rates at the present time. The general rule of thumb is that homeowners should seek a home loan interest rate that is one full percentage point below their current rate.
By reducing the mortgage interest rate by one full percentage point most homeowners will find that they cover closing costs in the near future and see great savings. With this in mind it is always a good idea to access the free financial calculators that are available online which can help homeowners understand just what interest rate they should desire in order to save by going to the refinance process.
Over the next several months it will be very interesting to see what happens to mortgage interest rates as the overall economy could improve. The Federal Reserve Bank is stated many times that as the economy improves it will likely be the case that mortgage interest rates move higher. With this in mind it may be a wise decision to take advantage of low interest rates while they are still available in January or February of 2011.
Author: Mike Garner
Tags: compare mortgage interest rates today > fha home loan rates > home loan interest rates > january mortgage interest rates > mortgage interest rates today > va home loan rates
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