Home Mortgage Refinance Loan Rates – 30 and 15 Year Interest Rates at 4.8% and 4.1% Respectively
Posted on | February 18, 2011 | No Comments
Through the middle weeks of February 2011 we have seen 30 year fixed home loans between 4.8% and 5% while the 10 year treasury rate yields stabilizes around 3.6%. With this in mind many homeowners will likely look for the lowest home mortgage refinance loan rates for an opportunity to refinance before mortgage interest rates start to move higher.
Many analysts and economists continue to predict that as the overall economy improves there will be higher interest rates. But the unemployment rate down to 9% and the stock market very close to multi-year highs there are many economic signs pointing towards growth. With growth being a strong possibility in the near future many homeowners can expect to see 30 year fixed mortgage rates above 5%.
Instead of waiting to see what the overall economy does it may be a wise decision to take advantage of low interest rates while they are still available. Unfortunately, not all Americans have the opportunity to lock in to the lowest mortgage refinance rates but this does not mean that they do not have an opportunity to save by lowering their specific interest rate.
The general rule of thumb is that all homeowners should desire to save at least one full percentage point before considering the refinance process. If one full percentage point can not be saved then it is often the case the closing costs will outweigh benefits in the breakeven month will be many years and possibly decades down the road.
With this in mind it is a wise decision to play around with the mortgage calculators and determine just what interest rate should be desired. By accessing these financial calculators Americans can get a better visualization as to how much they will be paying each and every month with a specific interest rate applied to their home loan.
Author: Jeremy North
Tags: 15 year fixed interest rates > 30 year fixed interest rates > home mortgage interest rates > Home Mortgage Loan Rates > home mortgage refinance loan rates > home mortgage refinance rates
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