Today’s Lowest Mortgage Interest Rates – Wachovia, RBC and SunTrust Regional Bank Interest Rates Near Lowest 2011 Levels
Posted on | May 24, 2011 | Comments Off
With thousands of American homeowners looking for today’s lowest mortgage interest rates many are hoping to save quite a bit of cash by going through the refinance process. Some regional banks that are offering very low rates at the present time include Wachovia, RBC, and SunTrust but all homeowners are encouraged to check out several mortgage lenders to see who will offer the lowest rates.
Many analysts have predicted that mortgage interest rates are likely to rise in the near future due to an improved economy. It is important to realize that the unemployment rate has recently moved up from 8.8% to 9%. With the unemployment rate still very close to recent highs it is hard to see the economy improving very quickly.
When the economy starts to improve there is very little doubt that the economy will set interest rates. The Federal Reserve Bank will no longer have a reason to keep interest rates low as they have in the past several years. This will likely mean that 30 year fixed mortgage interest rates will move up well above 5%.
When it comes to refinance a home loan it is important to remember that there are many options available. With over 7000 FDIC insured financial institutions throughout the country no homeowner should feel as if they are obligated to one bank or financial institution. Almost all US banks have websites that should help Americans find out much more information.
When seeking today’s lowest mortgage interest rates it generally takes an amazing credit score and financial history to lock in to these low rates. By having a credit score that is above 740 and a debt to income ratio that is well below 40% most Americans will find that there are plenty of opportunities to refinance to very low interest rates in May 2011.
Author: Mike Garner
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