Today’s Lowest FHA Mortgage Rates – Fixed Weekend Refinance Rates Dip to April 2011 Lows
Posted on | April 22, 2011 | Comments Off
With 30 year conventional mortgage rates under 4.75% many Americans are finding that today’s lowest FHA mortgage rates are well below 5%. At the present time we are seeing fixed weekend refinance mortgage rate at 4.6% for the 30 year fixed. It is important to note that only the best borrowers of money will receive interest rate quotes this low.
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 rise. Unfortunately, many Americans have not taken advantage of the low interest-rate environment and it may come back to haunt them in the near future as they could be leaving hundreds and possibly even thousands of dollars on the table.
With the unemployment rate now below 9% and the stock market making multiyear highs each and every month many analysts continue to predict that the economy is getting much better at a quick pace. If we continue to see the unemployment rate dipped and there is strong economic growth that there is reason to believe interest rates will move up quickly.
With this in mind it may be a very wise choice to take advantage of the low interest-rate environment while it is available. At the present time, 30 year fixed mortgage rates are under 5% for borrowers with a credit score above 740, a debt to income ratio below 40% and a significant amount of home equity.
For homeowners who have made very strong financial decisions in the recent past there is no reason to pass up an opportunity to lower our home loan mortgage rate. It is important to recognize that there are insurance obligations with an FHA mortgage so it may be advisable to seek a conventional mortgage with a slightly higher rate as it may help lower the cost with no insurance obligations.
Author: Jeremy North
Tags: fha mortgage interest rates > fixed weekend mortgage rates > home loan fha rates > lowest fha home loan rates > lowest fha mortgage rates > refinance mortgage interest ratse > todays lowest fha mortgage rates