Today’s Lowest FHA Mortgage Rates – Lowest Refinance Fixed Interest Rates at 4.6% for Well Qualified Borrowers
Posted on | April 21, 2011 | Comments Off
With 30 year fixed conventional mortgage rates getting very close to 4.5% many Americans are looking to take advantage by refinancing in the near future. When seeking today’s lowest FHA mortgage rates there are several opportunities to refinance to a level below 5% but it is important to remember that it takes well-qualified borrowers to receive these low rates.
It is also very important to remember that there are insurance obligations when it comes on FHA mortgage. Many people do not realize that these insurance obligations can add up and it is sometimes valuable to consider a conventional mortgage with a slightly higher rate. Luckily, there many free mortgage calculators available online to help home owners better understand which mortgage type is best for their specific financial situation.
As we get closer to the summer of 2011 there is a very good chance that we could see 30 year fixed mortgage rates start to move higher. Many analysts have predicted the 10 year treasury rate you will start the uptrend due to the fact that the overall economy is getting better. With an unemployment rate below 9% and the stock market making multi-year highs there is a very good chance that we could see interest rates move quickly.
With this in mind it may be a very wise decision to do as much research as possible before the economy drastically improves. Several homeowners could end up saving hundreds of dollars a month by refinancing to a rate that is below 5%. Remember there are closing costs involved in this process it is always advisable to add these into the calculations.
With over 7000 FDIC insured banks throughout the country it should not be overly difficult to find a financial institution that is willing to help when it comes to refinancing a mortgage. There many lenders at the local, regional and national level that should offer great customer service to go along with very low interest rate quotes.
Author: Mike Garner
Tags: fha mortgage interest rates > lowest fha mortgage rates > lowest fixed refinance rates > lowest refinance interest rates > mortgage interest rates today > today's lowest fha rates