Home Mortgage Refinance Loan Rates – May 13 Fixed Interest Rates at 4.5% for Excellent Credit Score Homeowners
Posted on | May 13, 2011 | Comments Off
Throughout most of 2011 we have seen 30 year fixed mortgage rates well below 5% and on May 13, 2011 we are seeing yearly lows as the 30 year fixed is down to 4.5%. When seeking home mortgage loan rates at the lowest possible levels it is important for American homeowners to have an excellent credit score and a very impressive financial history.
Unfortunately, over the past several years it has been the case that many Americans have struggled to make strong financial decisions which in turn has negatively affected their credit score. By having a credit score that is well below 700 and is extremely hard to lock into the lowest interest rates today.
Before starting the refinance process it is always a good decision to completely understand each and every step of this process. By accessing the HUD website most Americans will get a much better understanding as to which steps will allow negotiating to occur. Some Americans could save hundreds and possibly even thousands of dollars by negotiating lower costs and fees.
It is also wise decision to get several mortgage rate quotes before selecting a specific lender. With over 7000 FDIC insured financial institutions throughout this country it should not be extremely hard to find a financial lender that is willing to offer low interest rates as well as great customer service and incentives.
Remember that as the economy improves and will likely be the case interest rates start to rise. Many analysts have stated over the last several weeks that as the unemployment rate drops and as the stock market increases we will likely see interest rates start to move up. With that being said, the unemployment rate is still at 9% and there is plenty room for growth in the overall economy.
Author: Mike Garner
Tags: fixed home loan rates > fixed interest rates > fixed mortgage rates > home loan mortgage rates > Home Mortgage Loan Rates > home mortgage refinance rates