Today’s Lowest FHA Mortgage Rates – Refinance 30 and 15 Year Rates Still Under 5% on February 17
Posted on | February 17, 2011 | No Comments
With home loan interest rates very close to all-time lows it comes as no surprise to see many individuals looking for today’s lowest FHA mortgage rates on February 17. When looking for refinance fixed 30 and 15 year home loans it is often the case the very good credit borrowers will find that they can receive an interest rate quote below 5%.
At the present time we are seeing 15 year fixed mortgage rates around 4.15% while 30 year fixed mortgage rates are around 4.85%. With interest rates this close to historical lows it comes as no surprise that many Americans are looking to take advantage and save money. By refinancing home loan some individuals could end up saving hundreds of dollars a month on the mortgage payment.
When making any major financial decisions that involve a home loan it is advisable to do research and completely understand what options are available. By accessing the HUD website most homeowners will be able to completely understand each step of the mortgage refinance process which could help them save in the form of lower fees and costs.
Accessing this website and doing extensive research has saved many people hundreds of dollars and could save thousands of dollars for those who can negotiate lower fees. Rather than going into the refinance process blind it is always advisable to understand every possible step so costs can be reduced.
It is also important to remember that there are insurance obligations that come with an FHA mortgage. Although these insurance obligations are not overly expensive they can add up and sometimes it is worth it to take out a conventional mortgage with a slightly higher rate as these insurance costs can be avoided. Crunching the numbers on a mortgage calculator should help illustrate which mortgage type is best for specific financial situation.
Author: Mike Garner
Tags: fha mortgage interest rates > home loan interest rates > lowest fha mortgage rates > refinance 15 year home loans > refinance 30 year home loans > todays lowest fha mortgage rates
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