Today’s Lowest Mortgage Interest Rates – 30 and 15 Year Home Loans Remain Low Heading Into April 2011
Posted on | March 31, 2011 | Comments Off
When looking for todays lowest mortgage interest rates most homeowners are going to find that 30 year fixed rate is around 4.7% while the 15 year fixed rate is slightly above 4%. Heading into April 2011 many analysts have made the prediction that interest rates will likely rise in the future due to an improved economy but this is yet to happen.
The unemployment rate is now below 9% and the stock market continues to make multi-year highs almost each and every month but it is still the case that many analysts feel that the economy has plenty of room to recover. If the unemployment rate continues to drop and they are many economic indicators that point towards growth and there’s a good chance that we will see interest rates start to rise in the near future.
With this in mind it may be a very wise decision to do research when it comes to refinancing a home loan as early as possible. By continuing to wait and hope that interest rates drop Americans could be missing out on an amazing opportunity. Some homeowners have found that they can save hundreds and possibly even thousands of dollars a year by refinancing home loan.
There many mortgage lenders nationwide that will be willing to help when it comes to refinancing a mortgage payment. Most of these lenders will require a credit score above 740 and a debt to income ratio below 40% to have any opportunity to lock in to the lowest possible interest rates at the present time.
Without these financial requirements most homeowners are going to find it difficult to lock into low interest rates on any type of money borrowed. Even though this is the case they are still opportunities to save as Americans who can reduce their interest rate by one full percent often benefit from the refinance process.
Author: Jeremy North
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