Today’s Lowest FHA Mortgage Rates – 30 Year Refinance Home Loans Dip to 4.75% for Many Borrowers
Posted on | February 24, 2011 | No Comments
With millions of Americans looking for today’s lowest FHA mortgage rates it comes as no surprise to see many mortgage lenders reporting very attractive rates at the present time. With the 10 year treasury rate yield near February 2011 lows it is the case that 30 year refinance home loans are at 4.75% for many homeowners today.
It is very important to remember that it takes a wonderful financial history to have any opportunity to lock in to the lowest FHA mortgage rates. But having a credit score that is well below 720 and a debt to income ratio that is in excess of 40% many homeowners will find it extremely difficult to receive low-interest rate quotes in February of 2011.
If the opposite is true and homeowners have made very strong financial decisions over the last several years there should be no problem to access low interest rates and the current economic environment. With the 10 year treasury rate yield dropping below its 50 day moving average there is a very good chance that we could continue to see 30 year fixed mortgage rates move lower in the immediate future.
When seeking an FHA mortgage it is important to remember that there are insurance obligations. Even though these insurance costs are not overly expensive they are something that can add up each and every month which makes it advisable to seek a conventional mortgage with a slightly higher rate due to the fact that individuals can avoid these insurance costs.
Luckily, there are many mortgage and financial calculators available online to help home owners better understand how much money they can save with an FHA or a conventional mortgage. Remember there are closing costs involved in these processes so it is advisable to add these into the calculations when looking to save money.
Author: Alan Lake
Tags: 30 Year Fixed Mortgage Rates > 30 year home loan rates > 30 year refinance rates > lowest fha mortgage rates > today's lowest 30 year fixed rates > todays lowest fha mortgage rates
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