Today’s Lowest Mortgage Interest Rates – Obama and Bernanke Agree to Keep 30 Year Home Loans at Affordable Levels
Posted on | January 26, 2011 | No Comments
When it comes to locking in to today’s lowest mortgage interest rates many Americans have wonderful opportunities to save money. President Obama and Federal Reserve Bank chairman Ben Bernanke have agreed for quite some time that it would be wise to keep interest rates low to help stimulate growth when it comes to the overall economy.
The federal reserve bank is taking every necessary step to keep interest rates very attractive which in turn has pushed 30 year fixed mortgage rates under 5%. At the present time we are seeing 30 year conventional rates at 4.75% while 15 year conventional rates are around 4%. When looking at historical chart of rates is quite obvious that this is uncharted territory.
With that being said there is a very strong possibility that mortgage rates could start to move up in 2011. As the economy improves many feel that interest rates will start to move higher with the market. The federal reserve bank continues to take steps to keep rates low but this quantitative easing program will end in June of 2011.
Instead of waiting around and helping the interest rates continued lower it may be a very wise decision to take advantage of the offers that are currently available. While Bank of America, Chase, Citigroup and Wells Fargo are currently the four largest banks in the country they are many other options available as well when it comes to receiving today’s lowest mortgage interest rates.
Remember that it takes a very impressive credit score and a low debt to income ratio to have any opportunity to refinance at the lowest possible interest rates. With a credit score above 740 and a debt to income ratio that is below 40% Americans will have positioned themselves very well when it comes to receiving interest rates below 5% on a 30 year fixed mortgage.
Author: Mike Garner
Tags: bernanke home loan rates > bernanke mortgage rates > home loan interest rates > mortgage interest rates today > obama home loan rates > obama mortgage rates > today's lowest mortgage interest rates
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