Home Mortgage Refinance Loan Rates – Average 30 Year Fixed Interest Rates at 4.8% for Good Credit Score Borrowers
Posted on | February 23, 2011 | No Comments
Home mortgage refinance loan rates have been stable this week as a conventional 30 year fixed mortgage rate is around 4.8%. With average 30 year fixed rate still well below 5% many Americans are looking for the lowest possible home mortgage refinance loan rates in hopes of saving on a monthly mortgage payment.
Over the last few weeks we have seen the 10 year treasury rate yield around 3.6% which in turn has helped to stabilize 30 year fixed mortgage rates around 4.8%. As the 10 year treasury rate yield moves higher there is a very good chance that we could see 30 year fixed mortgage rates accelerate through the 5% mark.
Many analysts have predicted that 30 year fixed mortgage rates would move much higher in the very near future as the overall economy improves. Predicting where the economy will go can be very difficult that the unemployment rate has dropped 9% and the stock market is near multi-year highs which could indicate that growth is in the very near future.
With this in mind it may be wise to take advantage of the current low interest rate environment while it is available. With 30 year fixed mortgage rates at 4.8% for good credit score borrowers it might be time to take advantage of these low rates in February or March of 2011. By waiting for mortgage rates to drop homeowners are risking the possibility of rates moving much higher in the near future.
Remember that it takes a great financial history to have any opportunity to lock in to the lowest possible home loan mortgage rates so researching on a credit history is very important. By having a credit score that is in excess of 740 and a very low debt to income ratio below 40% many hard-working American homeowners stand to benefit greatly by receiving low refinance rate offers.
Author: Mike Garner
Tags: average 30 year fixed rates > average home loan interest rates > average home loan rates > home loan interest rates > Home Mortgage Loan Rates > home refinance loan rates
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