Today’s Lowest FHA Mortgage Rates – Refinance Interest Loan Rates Move Up with 10 Year Treasury Rate Yield
Posted on | March 28, 2011 | Comments Off
Today we are seeing the 10 year treasury rate yield push higher towards its 50 day moving average which in turn has also helped interest rates to increase. When looking for today’s lowest FHA mortgage rates it is important to recognize that the 10 year treasury rate yield and a 30 year conventional fixed mortgage rate have had a very strong correlation since 1971.
At the present time we are seeing the 10 year treasury rate yield very close to its 50 day moving average which is push 30 year conventional rates up to 4.75%. Even though mortgage rates have moved up over the last few days it is still the case that they are very attractive to most homeowners looking to save money by refinancing.
The general rule of thumb is that homeowners should desire to save at least one full percentage point when it comes to refinancing a home loan. By not saving one full percentage point it is often true that closing cost greatly outweigh benefits and it is not worth going through the entire financial process.
By doing research on the HUD website most Americans will find that there are negotiating steps when it comes to refinancing home loan. During these closing costs taps it is always advisable to see just how much money can be saved by negotiating lower costs and fees. This is one of the many reasons it is always a wise decision to contact several mortgage lenders and get a very competitive interest rate quote.
There are insurance obligations with an FHA mortgage which sometimes makes it wise to consider a conventional mortgage with a slightly higher rate. Even though these insurance obligations are not overly expensive it is always a good choice to understand each and every opportunity that is available when it comes to refinancing a home loan in April of 2011.
Author: Tiffany Mann
Tags: lowest fha mortgage rates > lowest refinance interest rates > lowest refinance loan rates > mortgage interest rates today > Refinance Home Loan Rates > today's lowest fha rates