Today’s Lowest Home Mortgage Refinance Loan Rates – Credit Unions and Banks Offer Attractive 30 Year Rates in May
Posted on | May 28, 2011 | Comments Off
With the 10 year treasury rate yield well below its 50 day moving average many hard-working Americans are looking for today’s lowest home mortgage refinance loan rates as the 30 year fixed mortgages dip below 4.5%. There many credit unions and banks throughout the country that are offering very attractive interest rates in May of 2011.
By doing research online most Americans will find that there are many opportunities to refinance a home loan at a local, regional or national financial lender. With over 7000 FDIC insured financial institutions throughout the country most individuals should not have to look very far to find a bank or credit union in their specific area.
As we get closer to the summer of 2011 there’s a strong possibility that we could see interest rates start to rise. If the economy continues to improve in the unemployment rate dipped well below 8% and there’s a good chance at the Federal Reserve Bank will no longer have a reason to keep interest rates low as they have in the recent past.
With this being a possibility it may be a wise choice to do as much research as possible to receive low interest rate offers and may or June of 2011. It is very important to note that only the best borrowers of money will receive the lowest interest rate offers at the present time. It is generally the case that customers must have a credit score above 740 and a debt to income ratio under 40% to refinance to 2011 lows.
It is always a wise decision to do extensive research when major finances are involved. With a home loan often being one of the biggest financial decisions of one’s life there is no reason to pass up an opportunity to research for several hours and possibly even several days. Some Americans could end up saving hundreds and even thousands of dollars by better understanding the refinance process.
Author: Mike Garner
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