Today’s Lowest Mortgage Interest Rates – February 24 Home Loan Rates Drop to 4.75% for 30 Year Fixed
Posted on | February 24, 2011 | No Comments
When looking for today’s lowest mortgage interest rates many homeowners will find that the 10 year treasury rate yield has dropped which in turn has pushed 30 year home loan interest rates to 4.75%. We are very close to a February 2011 while as the 10 year treasury rate yield has dropped below its 50 day moving average.
Even though many mortgage lenders are quoting 30 year fixed rates below 5% and is still the case that a large number of American homeowners do not have the ability to refinance to the lowest possible rate. It takes a wonderful credit score and a low debt to income ratio to have any opportunity to receive low interest rate quotes.
As we get deeper into 2011 there is a very good chance that we could see interest rates start to move higher due to the fact that the overall economy has improved. With the unemployment rate down to 9% and the stock market very close to multiyear highs there many economic indicators pointing towards growth in the very near future, possibly as soon as the spring of 2011.
The federal reserve bank has stated on multiple occasions that there is no reason to keep interest rates low with an economy that is improving. With this in mind there is a very good chance that we could see 30 year fixed mortgage rates accelerate through 5% and well toward 6% during the spring or summer of 2011.
With this being a possibility it may be wise to take advantage of the current low interest rate environment in February of 2011. Many homeowners with a great credit score finding that mortgage interest rates below 5% are attainable. By shopping around and looking at multiple mortgage lenders homeowners will likely find that they can reduce a home loan interest rate payment.
Author: Heather Best
Tags: february 24 interest rates > february 24 mortgage rates > home loan interest rates > mortgage interest rates today > today's lowest mortgage interest rates > todays home loan interest rates
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