Compare Mortgage Interest Rates Today – Late February VA, Conventional and FHA Home Loans Dip to New Lows
Posted on | February 24, 2011 | No Comments
With the 10 year treasury rate yield currently under its 50 day moving average it will likely be the case that many Americans look to compare mortgage interest rates today in hopes of finding the lowest rate possible. Late February VA, conventional and FHA home loans have dipped to a new low due to the fact that the 10 year treasury rate yield is it a February 2011 low.
At the present time we are seeing 30 year conventional fixed mortgage rates around 4.75% which is quite attractive after the 5% rates that were quoted a couple weeks ago. With this in mind it should come as very little surprise to see many American homeowners looking to refinance a home loan to the lowest interest rate possible.
By using the many financial and mortgage calculators available online homeowners will likely find that there are several ways to save by refinancing home loan. The general rule of time is that homeowners should desire at least the one full percentage point savings before going through the refinance process. This one full percentage point savings will guarantee a breakeven month in the near future when it comes to monthly home loan payments.
For those who cannot save this one full percentage point it is often the case that the breakeven month is well into the future and it is not even worth it to go to the refinance process in February or March of 2011. As we get deeper into the year there is a very good chance we could see home loan interest rates start to move much higher. With the overall economy improving many feel that interest rates will move through 5% toward 6%.
With this in mind it may be wise to take advantage of the current low interest rate environment. With 30 year fixed home loans still well below 5% there many opportunities to refinance with a mortgage lender that will allow homeowners to save on a monthly payment.
Author: Jeremy North
Tags: compare mortgage interest rates today > fha home loan rates > home loan interest rates > home loan interest rates today > mortgage interest rates today > va home loan rates
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