Today’s Lowest FHA Mortgage Rates – May 19 Refinance Loans at RBC, SunTrust and Capital Bank Under 4.5% for Many Borrowers
Posted on | May 19, 2011 | Comments Off
When seeking today’s lowest FHA mortgage rates most homeowners are going to find that refinance loan rates are very close to all-time lows on May 19, 2011. Over the last several weeks we have seen the 10 year treasury rate yield dropped to 2011 lows which in turn push conventional fixed mortgage rates down to 4.5%.
Some regional banks are offering refinance loan rates near historic lows include RBC, SunTrust and Capital Bank as these financial institutions continue to see interest rates drop. It is important to remember that there are many options available when it comes to refinancing home loans of individual should not feel as if they are obligated to one specific bank.
The FDIC insurers over 7000 financial institutions throughout the country so it should not be overly difficult to find a bank that is more than willing to offer great customer service to go along with extremely low interest rates. By doing research online most will find that every single financial institution has an easy contact through a website or a twitter service.
As we get closer to the summer of 2011 there is a very strong possibility that we could see 30 year fixed mortgage rates start to rise. As the economy gets better there is a very good chance that we could see the Federal Reserve Bank no longer take the necessary steps to keep rates low due to the fact that the market should set rates.
With this in mind it may be a very wise choice to take advantage of the low interest rate environment while it is available. Unfortunately, some American homeowners will not have the ability to lock into the lowest mortgage rates but this does not mean they cannot benefit from the refinance process. The general rule of thumb is a homeowner should desire to save at least one full percentage point which should cover closing costs when refinancing.
Author: Jeremy North
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