Compare Mortgage Interest Rates Today – 30 Year Refinance VA and Conventional Fixed Rates Below 5% in March 2011
Posted on | March 25, 2011 | Comments Off
With 30 year fixed conventional mortgage rates very close to all-time lows it comes as no surprise to see a large number of American homeowners looking to compare mortgage interest rates today. At the present time we are seeing 30 year refinance VA and conventional home loan interest rates around 4.7% for the best borrowers.
It is very important to remember that only the best borrowers will have any opportunity to lock in to the lowest possible interest rates today. By doing research online most will find that it takes a credit score above 720, equity in a home, and a debt to income ratio below 40% to have any opportunity to lock in to the lowest possible rates in March of 2011.
Taking advantage of the current low interest rate environment would be very advisable as Americans could end up saving hundreds and possibly even thousands of dollars with a lower home loan payment. There many mortgage calculators available online that should help homeowners much better understand how much money they could save by refinancing at the present time.
The general rule of thumb is that homeowners should desire to save at least one full percentage point if they hope to benefit from the refinance process. By not saving this one full percentage point it is often true that homeowners will find the closing costs greatly outweigh benefits and the refinance process is not worth it.
With many mortgage lenders nationwide willing to help when it comes to locking into low rates there is no reason to take the first interest-rate offer. With over 7000 FDIC insured banks throughout the country it would be advisable to seek multiple lenders and see which lender will work best with a specific financial situation. These lenders should do everything possible to offer great customer service to go along with low interest rates.
Author: Mike Garner
Tags: compare mortgage interest rates > home loan interest rates > home loan mortgage rates > home loan rates > refinance conventional home loans > refinance va home loans