Today’s Lowest Mortgage Interest Rates – Refinance Home Loans Dip to 4.75% on April 14, 2011
Posted on | April 14, 2011 | Comments Off
When looking for today’s lowest mortgage interest rates most homeowners will find every finance home loan rates for 30 year fixed dip to 4.75% today. On April 14, 2011 Americans are finding that their are many opportunities to refinance to a lower rate with a very impressive financial history. Unfortunately, many Americans have seen their credit score drop due to the overall bad economy.
With millions of Americans struggling to make ends meet when it comes to personal finances there is no reason to pass up an opportunity to lower an overall mortgage interest rate. With over 7000 FDIC insured banks throughout the country that should not be hard to find a lender that is willing to offer great customer service to go along with low interest rates.
As we get closer and closer to the summer of 2011 there is a very good chance that we could see interest rates start to rise. With the overall economy looking like it is improving many analysts have predicted that interest rates could move up quickly due to the fact that the federal reserve bank no longer thinks they need to keep rates near historic lows.
Over the next several weeks it will be very interesting to see what happens when the ten-year treasury rate yield as this could greatly determine where interest rates are headed in the near future. Since 1971 the 10 year treasury rate yield and 30 year fixed mortgages have had a very strong correlation and that should not change in 2011.
Before going into the refinance process it is very important to remember that the general rule of thumb is that homeowners should desire to save at least one full percentage point. By not saving this one full percentage point it is often the case that homeowners miss out on the opportunity of savings due to the fact the closing costs outweigh the benefits.
Author: Jeremy North
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