Today’s Lowest Mortgage Interest Rates – 15 and 30 Year Refinance Rates Up Slightly with 10 Year Treasury Rate Yield
Posted on | March 24, 2011 | Comments Off
When seeking today’s lowest mortgage interest rates most homeowners are going to find that there are opportunities to receive interest rates well below 5% for the 15 and 30 year fixed rate. With that being said rates have moved up slightly over the last several days due to the fact the 10 year treasury rate yield has bounced off its 2000 Lausanne is heading back to its 50 day moving average.
At the present time we are seeing 30 year fixed conventional mortgage rates around 4.65% while 15 year conventional mortgage rates are slightly above 4%. When looking at historical chart of mortgage interest rates is quite obvious that we are very close to the lowest levels in the history of the United States housing market due to the fact of the struggling economy.
For quite some time the federal reserve bank has taken the necessary steps to make sure interest rates stay low. Unfortunately, not all Americans can benefit from the low interest rate environment as they have made bad financial decisions in the recent past. By doing research online Americans will much better understand if they have the financial requirements to lock into the lowest possible rates.
It is generally the case that American homeowners need a credit score that is in excess of 740 and a debt to income ratio that is below 40% to have any opportunity to lock in to the lowest possible rates in March or April of 2011. Without these financial requirements and will likely be true that lenders are much less likely to offer interest rates under 5%.
Even though this is the case they are still opportunities to save if homeowners can lower their home loan interest rate by one full percentage point. By lowering an interest rate by one full percentage point is usually true that closing costs do not greatly outweigh benefits and a breakeven month is very soon for homeowners to complete the process.
Author: Tiffany Mann
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