Home Mortgage Refinance Loan Rates – April 23 Weekend Interest Rates Under 4.75% for Many Borrowers Nationwide
Posted on | April 22, 2011 | Comments Off
Over the last week we have seen the 10 year treasury rate yield drop below its 50 day moving average which in turn has pushed 30 year conventional mortgage rates down to 4.6%. When looking for the lowest home mortgage refinance loan rates it is very important to understand that borrowers will need a very good financial history to prove to lenders that they should receive low rates.
On the weekend of April 23, 2011 many mortgage lenders are reporting 30 year fixed rates below 4.75% for borrowers. As stated earlier, it is important to remember that an impressive credit history is needed. With a credit score above 740, a debt to income ratio below 40% and a significant amount of home equity many Americans will have the opportunity to refinance at low rates.
There are over 7000 FDIC insured banks throughout the United States who should not be overly difficult to find financial institutions that are willing to help when it comes to finding low home mortgage loan rates. With that being said, most of these mortgage lenders can be very strict when it comes to lending practices due to the fact that they do not want to repeat the credit crisis.
With this in mind it is always a wise decision to pay down high interest rate debts as soon as possible. Unfortunately, many Americans have made poor financial decisions over the last several years which in turn makes it very difficult to lock into low rates.
With the advancements in technology it is now easier than it has ever been to do financial research online. Almost every major mortgage lender in the country offers a free live chat or twitter answering service that should help when it comes to getting answers to those difficult questions. It is advisable to take advantage of these resources as it could help save a significant amount of time and money to
Author: Mike Garner
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