Today’s Lowest FHA Mortgage Rates – Current 30 Year Fixed Rates Under 5% for Well Qualified Borrowers
Posted on | March 24, 2011 | Comments Off
With today’s lowest FHA mortgage rates under 5% for well qualified borrowers it is the case that many people are seeking current 30 year fixed rates. Before making any assumptions it is very important to recognize that only the best borrowers of money will have any opportunity to lock in to the lowest possible interest rates during the spring of 2011.
To be a very good borrower of money it is usually required to have a credit score above 740 and a debt to income ratio that is below 40%. By meeting these financial requirements a large number of American homeowners will stand to benefit from the current low interest rate environment that is being assisted by the federal reserve bank.
Over the last several years the federal reserve bank is taking every necessary step to keep interest rates low due to the fact that the economy has struggled to grow. With that being said many analysts predict that as the economy improves there is a very good chance that we could see interest rates start to move up quickly.
With the stock market make a multiyear highs each and every month and the unemployment rate below 9% there are signs that economic growth is coming in the very near future. With this in mind it might be a good choice to do a little bit of extra research and understand that there are opportunities to refinance at a low interest rate at the present time.
By continuing to wait and hope that interest rates dropped to an all-time low homeowners may be missing out on an opportunity of a lifetime. By simply doing a little bit of extra research online from the comfort of a home or office most homeowners will be able to better understand if refinancing is right for their current financial situation.
Author: Mike Garner
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