Today’s Lowest FHA Mortgage Rates – Fixed Refinance January Interest Rates Under 5% for Many Homeowners Nationwide
Posted on | January 19, 2011 | No Comments
Today’s lowest FHA mortgage rates continued to be a very attractive levels as many homeowners nationwide will find 30 year conventional rates under 5%. In January of 2011 we have seen 30 year fixed interest rates between 4.55% and 4.75% with the current rate being around 4.6%. Most mortgage lenders are also reporting that FHA mortgage rates are coming in very close to conventional mortgage rates.
Taking the time and effort to complete due diligence and homework on the refinance process could prove to be greatly important when it comes to locking in the lowest possible FHA mortgage rates. Luckily, there are many free resources available online including the HUD website that is sponsored by the federal government.
By simply doing a few hours of extra research on this website most homeowners will be able to better understand what options are available for a specific financial situation. Unfortunately, many Americans go into the refinance process blind and have no clue as to how to save a little bit of extra cash here and there.
The general rule of thumb is that homeowners should seek to save at least one full percentage point on their current home loan interest rate. By saving one full percentage point it is often the case the closing costs will not outweigh benefits over the long term. By accessing a breakeven calculator that will help to better illustrate the options that are available.
Some of the largest mortgage lenders in the country include Wells Fargo, Bank of America, Chase and Citigroup but remember that there are also local and regional lenders as well. By checking out the competition most homeowners will find that they can not only find a competitive interest rate but they will also receive great customer service as the smaller banks are looking to build a customer base.
Author: Heather Best
Tags: fha mortgage loan rates > home loan rates > january fixed interest rates > lowest mortgage interest rates > lowest mortgage rates > lowest refinance mortgage rates > todays lowest fha mortgage rates
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