Compare Mortgage Interest Rates Today – May 17 FHA and VA Refinance Loans Lower at Chase, Citi and Wells Fargo
Posted on | May 17, 2011 | Comments Off
On May 17th, 2011 we are seeing home loan interest rates drop to yearly lows as the 10 year treasury rate yield is all the way down to 3.1%. At the present time we are seeing 30 year conventional mortgage rates around 4.4% which means that FHA and VA home loans are likely below 4.75%.
Major mortgage lenders Chase, Citi and Wells Fargo have reported that 30 year conventional mortgage rates are coming in very close to FHA and VA mortgage rates so customers will likely see 2011 lows for any mortgage type. It is important to note that every mortgage lender is a little bit different when it comes to refinancing home loans so it is advisable to get several mortgage interest rate quotes.
With over 7000 FDIC insured financial institutions throughout the United States most homeowners will find that they are many options available and their specific area. Rather than assuming that one bank is the only way to go is always smart to expand one’s horizons and look at many other options including Community Banks or other local banks.
As we get closer to the summer of 2011 it will be very interesting to see what happens with the 10 year treasury rate yield. At the present time it is very close to its 200 day moving average which should hold as a support level. If this support level holds that it could be the case that the 10 year yield starts to move higher which in turn would push conventional mortgage rates up.
No matter what the overall economy does it may be a very wise choice to take advantage of low interest rates while they are available. With many opportunities to save money by refinancing many homeowners could put extra money into their bank account which could go towards putting more equity into their current home.
Author: Mike Garner
Tags: compare mortgage interest rates > fha home loans today > fha mortgage rates today > home loan mortgage rates > va home loan rates > va home loans today