Home Mortgage Refinance Loan Rates – Current 15 and 30 Year Fixed Interest Rates Under 5% for Well Qualified Borrowers
Posted on | January 31, 2011 | No Comments
With the overall economy showing signs of improvement there is a very good chance that home mortgage refinance loan rates could move up as the year progresses. At the present time we are seeing current 15 and 30 year fixed interest rates below 5% for those who have a great credit score and a low debt to income ratio.
Taking the time and effort to do research on interest rate trends could prove to be greatly important when it comes to locking in the lowest possible mortgage rate. By looking at historical charts it is quite obvious that we have never seen 30 year fixed rates below 5% for such an extended period of time. With this in mind there are many homeowners who stand to benefit greatly by taking advantage of the current low interest rate environment.
The Federal Reserve Bank Chairman and many analysts have predicted that the overall economy will get better in 2011 which could push mortgage rates quite higher. Some analysts feel the 30 year fixed mortgage rates could accelerate through 5% and all the way up to 6% sometime in the next several months or years.
Rather than waiting for mortgage rates to drop to all-time low levels it may be a wise decision to take advantage of the current low interest rate environment. Many homeowners have found that they can save hundreds of dollars a month on a mortgage payment by refinancing with a lender in the early part of 2011.
The lending industry is quite competitive so it should not be difficult to find a financial institution that is willing to offer low interest rates. Remember that it generally takes a credit score that is above 740 and a debt to income ratio that is below 40% to have any opportunity to receive the lowest home mortgage refinance loan rates in 2011.
Author: Jeremy North
Tags: current 15 year fixed rates > current 30 year fixed rates > home loan interest rates > Home Mortgage Loan Rates > home mortgage refinance loan rates > home mortgage refinance rates
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