Today’s Lowest Mortgage Interest Rates – Average 30 and 15 Year Refinance Loans Drop on March 29
Posted on | March 29, 2011 | Comments Off
As we get closer to April it is the case the mortgage interest rates are very volatile as we have seen rates as high as 4.75% and as low as 4.5% in the month of March. At the present time we are seeing today’s lowest mortgage interest rates around 4.65% for the 30 year fixed and right around 4% for the 15 year fixed.
With interest rates still well below 5% many American standard benefit greatly by going to the refinance process in late March or early April of 2011. It is important to remember that the mortgage rates that are advertised are only available to the best borrowers of money. It generally takes a credit score above 740 and a debt to income ratio below 40% to have any opportunity at these very low rates.
Even if Americans can not lock into the lowest possible rate that does not mean that they cannot benefit from the low interest-rate environment. By saving one full percentage point most Americans will find the closing costs are not outweigh the benefits of refinancing. By not saving this one full percentage point it is often true that closing costs will be the determining factor when it comes to not refinancing.
Luckily, there are many free mortgage and financial calculators available online that should help Americans better understand if it is wise to refinance at the present time. Remember that adding closing costs into the calculations is imperative as these closing cost me thousands of dollars and end up making the financing process more difficult.
By accessing the HUD website Americans will find that there are opportunities to negotiate the closing cost process. This website was designed by the federal government and should help Americans much better understand each and every step of the mortgage application process which could save money.
Author: Tiffany Mann
Tags: lowest fha rates > lowest fixed interest rates > lowest home loan rates > lowest mortgage interest rates > lowest mortgage rates today > lowest refinance rates today