Today’s Lowest Mortgage Interest Rates – Trends and Forecasts Show Refinance Loans Higher in Summer 2011
Posted on | April 19, 2011 | Comments Off
With the 10 year treasury rate yield under its 50 day moving average many people are aware that today’s lowest mortgage interest rates are under 4.75%. At the present time 30 year fixed rates are up 4.7% for borrowers who have a very impressive financial history. It usually takes a credit score above 740 and a debt to income ratio below 40% to receive these low interest rates.
Many analysts have made forecasts and projections that we will see interest rates higher in the very near future. Trends are pointing towards higher rates in the future due to the fact that the overall economy looks to be improving with an unemployment rate that is now below 9%.
With this in mind it may be a very good decision to start research as soon as possible when it comes to refinancing a home well. By waiting until the last minute and hoping that interest rates drop before the summer of 2011 some homeowners may pass up an opportunity to save hundreds of dollars a month by locking into a mortgage interest rate is below 5%.
With over 7000 FDIC insured lenders throughout the country Americans should not find it difficult to refinance a home loan with a very reputable company. With that being said it is always wise to check the competition and make certain that an interest rate is competitive. With the advancements in technology should not be very difficult to find local and regional lenders and a specific area.
If the unemployment rate continues to drop in the stock market continues to make multi-month highs we will likely see the Federal Reserve Bank no longer take every necessary step to keep interest rates low. With that being said, we can expect to see 30 year fixed mortgage rates move above 5% and possibly toward 6% if this is truly the case.
Author: Heather Best
Tags: interest rate forecasts > mortgage interest rates today > mortgage rate forecasts > mortgage rate trends > today's lowest mortgage rates > todays lowest interest rates