Today’s Lowest Mortgage Interest Rates – Fixed 30 Year Home Loans Hit May Lows with 10 Year Yield at 3.13%
Posted on | May 26, 2011 | Comments Off
Over the last few weeks we have seen the 10 year treasury rate yield decline to yearly lows. On May 25th, 2011 the 10 year treasury rate yield is at 3.13% which has helped to push mortgage interest rates to new monthly and yearly lows. When seeking today’s lowest mortgage interest rates it is important for all homeowners to realize that it takes an amazing financial history to lock in to these low rates.
As we get closer and closer to the summer of 2011 there is a chance that the overall economy could greatly improve which in turn will push mortgage rates higher. With that being said, we have recently seen the unemployment rate move up from 8.8% to 9% so strong economic growth in all sectors may be a few more months away.
With interest rates near all time lows many Americans stand to benefit. All homeowners must understand that a very high credit score is required to receive the lowest interest rate offers. It is also the case that a debt to income ratio below 40% is very beneficial for those looking to refinance under 5%.
Taking the time and effort to do a significant amount of research could also prove to be beneficial as there are many options available. By looking at all of these options most homeowners will find mortgage lenders on the local, regional and national level. By getting interest rate quotes from all levels of lenders there is a chance that even more money can be saved.
With the advancements in technology it is now the case that Americans can receive mortgage interest rate quotes from the comfort of their home or office. This makes it much easier to decide which mortgage lender will work best for a specific financial situation.
Author: Mike Garner
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