Today’s Lowest Mortgage Interest Rates – March 2011 Home Loans Begin at 4% for 15 Year Fixed
Posted on | February 28, 2011 | No Comments
When looking for today’s lowest mortgage interest rates most homeowners will find that heading into March 2011 the 15 year fixed home loan rate is around 4%. When looking at the historical chart of 15 year fixed mortgage rates it is quite obvious that we are very close to all-time lows which could present many opportunities to save money.
We are also seeing the 30 year fixed mortgage rate very close to all-time lows at it has recently dropped below 4.75%. By doing a little bit of extra research online most homeowners will find that it takes a very impressive credit history to have any opportunity to lock in to the lowest home loan rates in February or March of 2011.
By having a debt to income ratio that is below 40% there is a very good chance that Americans could achieve a credit score that is about 740 which will allow them to take advantage of the current low interest rate environment. By not having a very good credit history it will likely be the case that mortgage lenders will not be willing to offer low rates to poor credit borrowers.
As we get deeper and deeper into 2011 there is a very strong possibility that we could see home loan interest rates move much higher. Many well-known analysts and economists have predicted that as the economy improves we will likely see mortgage interest rates move through 5% and toward 6%. With the unemployment rate down to 9% there’s a strong possibility that this could happen sooner rather than later.
With this in mind it may be wise to start research as early as possible when it comes to refinancing home loan. Rather than allowing this opportunity to pass it would be wise to access the HUD website and get a full understanding as to what steps must be taken to refinance a home loan to a lower monthly mortgage payment.
Author: Tiffany Mann
Tags: home loan interest rates > lowest home loan rates > lowest mortgage interest rates > march 2011 home loan rates > march 2011 mortgage rates > today's lowest mortgage rates
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