Today’s Lowest Mortgage Interest Rates – Mid May Refinance Fixed Loans Under 4.5% for Good Credit Score Borrowers
Posted on | May 18, 2011 | Comments Off
When customers are looking for today’s lowest mortgage interest rates it is likely the case that they are finding average 30 year fixed home loans being quoted under 4.5%. It is important to realize that these low interest rate quotes are only available to those who have a very good credit score that is preferably above 740.
Unfortunately, many Americans have greatly struggled when it comes to improve one’s financial history. Since the credit crisis it has been difficult for American households to pay bills on time which in turn will make it hard to borrow any type of money. Lenders are quite aware of this as they continue to tighten their lending practices.
With this in mind it is always smart to pay down every high interest rate debt possible. Many Americans have a significant amount of credit card debt that must be addressed before they have any chance to lock in to 30 year fixed refinance home loans under 5%. In fact, many bad credit borrowers will see rates closer to 8% than 5% if they have made a large number of bad money decisions in the recent past.
As we get closer and closer to the summer month sin 2011 many people expect to see mortgage rates move up. This expectation is set on the belief that the overall economy will improve and the unemployment rate will drop. Unfortunately, the unemployment rate has moved up from 8.8% to 9% recent but this could mean more Americans have a chance to lock in to low rates in the future.
With over 7000 FDIC insured financial institutions throughout the United States it should not be extremely hard to find a mortgage lender that will be willing to help when it comes to refinancing a home loan. By receiving several mortgage rate quotes some homeowners could end up saving more money in the long run.
Author: Jeremy North
Tags: good credit score interest rates > good credit score mortgage rates > good credit score rates > lowest home loan rates > lowest refinance rates > today's lowest mortgage rates