Today’s Lowest Mortgage Interest Rates – Refinance 30 Year Home Loan Rates at 4.8% on February 23, 2011
Posted on | February 23, 2011 | No Comments
On February 23, 2011 we are seeing 30 year fixed refinance home loan interest rates around 4.8% for well-qualified borrowers. It is very important to remember that today’s lowest mortgage interest rates are only available to those who have made very strong financial decisions even throughout the recession.
By allowing credit card debt to accumulate and a debt to income ratio to increase it will likely be the case that most American homeowners do not have the opportunity to refinance to the lowest possible home loan interest rate. If very strong financial decisions have been made and all bills have been paid down that there are many financial lenders who will reward these borrowers with very low home loan rate offers.
By doing research online most homeowners will find that there are mortgage lender spread throughout the United States that will be more than willing to help individuals when it comes to locking in the lowest possible mortgage interest rates. As stated earlier, a very good financial history is imperative when it comes to locking in interest rates that are near historical lows below 5%.
Even if homeowners cannot lock into the lowest possible rates there are still opportunities to save by going to the refinance process. The general rule of thumb is that homeowners should save at least a full percentage point to fully benefit from the refinance process in February of 2011. This one full percentage point saved could make the breakeven month much sooner for borrowers.
As we get deeper into 2011 there is a very good chance that we could see 30 year fixed mortgage rates start to rise. As the unemployment rate drops and economic indicators show growth in the economy many feel that 30 year fixed mortgage rates will move through 5% and toward 6%.
Author: Mike Garner
Tags: home loan interest rates > lowest mortgage interest rates today > refinance 30 year fixed home loans > Refinance Home Loan Rates > today's lowest mortgage interest rates > todays lowest home loans
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