Compare Mortgage Interest Rates Today – 2011 Refinance VA and FHA Home Loans Hit Historic Lows in March
Posted on | March 17, 2011 | Comments Off
As be make our way towards tax day it is the case that the 10 year treasury rate yield has dropped to historic lows which in turn has helped many Americans refinance to the lowest possible levels in recent history. At the present time we are seeing 30 year conventional fixed mortgage rates around 4.5% which is very attractive to most homeowners.
When looking to compare mortgage interest rates today it is important to remember that only the homeowners with the best credit scores will have the opportunity to lock in the lowest possible rates. With a credit score above 740 and a very low debt to income ratio below 40% most Americans will find that they have positioned themselves very well when it comes to low rates.
Over the next several months it will be very interesting to see where interest rates fell as many analysts have predicted that the overall economy is getting better. As the economy gets better it might be the case that interest rates move up due to the fact that Americans no longer need to borrow money at cheap rates.
The federal reserve bank is taking every necessary step to keep interest rates lower for the last several years and this will likely continue until the overall economy improves. When the economy drastically improves and the unemployment rate drops then there is a very good chance that we could see interest rates start to move up quickly. With this in mind it might be a good choice to take advantage of refinance VA and FHA home loans while they are historically low.
By doing research on the HUD website most Americans will find there are plenty of opportunities to negotiate lower costs and fees when it comes to refinancing. Unfortunately, many Americans go through this entire process without negotiating at all and they could be leaving hundreds and possibly even thousands of dollars on the table.
Author: Mike Garner
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