Today’s Lowest Refinance FHA Mortgage Rates – Zions, PNC and Northern Trust Banks Report Home Loans Under 4.75% in May
Posted on | May 17, 2011 | Comments Off
When seeking today’s lowest FHA mortgage rates most Americans are going to find that mortgage lenders nationwide are reporting conventional rates very close to 4.5% or below which means that FHA mortgage rates are likely coming in around 4.75% or below. Some major mortgage lenders that have reported rates near all-time lows include Zions Bank, PNC and Northern Trust Bank.
It is very important to note that these are some of the larger regional banks throughout the country but definitely not the only options when it comes to locking in the lowest FHA mortgage rate. By doing research online most will find that there are a large number of local and regional lenders that will also help when it comes to refinancing home loan to a lower FHA mortgage rate.
Many analysts and economists have predicted that the overall economy will begin to improve by the summer of 2011 which in turn should push mortgage interest rates higher. With that being stated it is important to recognize that the unemployment rate has moved up from 8.8% and 9% and many feel as if the economy could continue to struggle into the second half of 2011.
No matter what happens with the overall economy and may be a wise choice to take advantage of the low interest-rate environment while it is available. With 30 year fixed conventional mortgage rates now under 4.5% there is no reason to pass up an opportunity to refinance to a lower overall rate as soon as possible.
With many free mortgage calculators available online it should not be overly difficult to figure out just how much money can be saved by refinancing. The general rule of thumb is that homeowners should desire to save one full percentage point as this should cover closing costs and help individuals see savings in the very near future.
Author: Mike Garner
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