Compare Mortgage Interest Rates Today – January 25 Refinance VA and FHA Home Loans Remain Near Historic Lows
Posted on | January 25, 2011 | No Comments
As many Americans homeowners are aware mortgage rates are very close to all-time lows so it comes as very little surprised to see individual searching to compare mortgage interest rates today. On January 25, 2011 refinance VA and FHA home loan interest rates are still very close to all-time lows. The 30 year conventional rate is at 4.75% which is very affordable when looking at historical rates over the last several decades.
Never before in the history of the United States housing market have we seen 30 year fixed mortgage rates below 5% for such an extended period of time. Many Americans have the ability to refinance to very low rates if they have made strong financial decisions in the past. It generally takes a credit score that is above 740, a debt to income ratio below 40%, and equity in a home.
By meeting the specific financial requirements it should not be extremely difficult to lock into the lowest possible mortgage interest rates today. By doing some extra research and homework online many homeowners will find ways to save money when it comes to costs and fees which could end up being thousands of dollars when all is said and done.
The HUD website offers many free articles and resources that help explain the entire mortgage process. Before going into any mortgage application or refinance application situation it is always smart to complete as much homework as possible to make sure that savings or had. Some homeowners are finding that they can save $100 a month on a lower interest rate home loan.
As we get deeper and deeper into 2011 it could be the case that mortgage rates start to move higher due to the improved economy. Many analysts have stated that as the economy gets better it will be the case that interest rates start to move up with the markets which in turn will likely mean 30 year fixed mortgage rates above 5% and even possibly close to 6%.
Author: Mike Garner
Tags: compare mortgage interest rates today > fha home loan rates > home loan interest rates > refinance fha home loans > refinance va home loans > va home loan rates
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