Compare Mortgage Interest Rates Today – Late March VA, FHA and Conventional Home Loan Refinance Rates Remain Low
Posted on | March 21, 2011 | Comments Off
With 30 year fixed mortgage rates very close to 2011 lows it comes as no surprise to see many American homeowners looking to compare mortgage interest rates today. At the present time we are seeing 30 year fixed mortgage rates under 4.5% for borrowers who have a very impressive credit history with a credit score that is in excess of 740.
With late March in VA, FHA and conventional mortgage rates very low many people are submitting mortgage applications and attempt to save as much money as possible. By saving one full percentage point on a mortgage rate most homeowners will find that they save a significant amount of cash each and every month when it comes to a lower mortgage payment.
It is very important to remember that there are closing costs involved in the refinance process so it is advisable to save at least one full percentage point or closing costs will outweigh benefits. Luckily, there many free mortgage calculators available online that should help home owners better understand how much money could be saved when it comes to refinancing in March of 2011.
Some analysts are predicting that interest rates are likely to move up over the next several months as the economy improves. If we continue to see the unemployment rate drop in the stock market reach new multi-year highs then there is a very good chance that interest rates could rise. If we see a fallout in the stock market and the unemployment rate increases in interest rates will likely remain very low for quite some time.
Rather than taking a chance it may be advisable to do as much research as possible and refinance in March or April of 2011. By waiting out the overall economy there is a very good chance that homeowners could end up missing a very good opportunity to save by refinancing during the early part of the year.
Author: Heather Best
Tags: conventional home loan rates > fha home loan rates > home loan interest rates > home loan mortgage rates > mortgage interest rates today > va home loan rates