Today’s Lowest Mortgage Interest Rates – USAA, Fifth Third Bank and TD Bank Refinance Mortgage Rates Move Higher on June 15
Posted on | June 15, 2011 | Comments Off
When seeking today’s lowest mortgage interest rates most Americans are going to find a 30 year fixed mortgage rates have moved up slightly in the past few days. Major mortgage lenders such as USAA, Fifth Third Bank and TD Bank are all reporting 30 year fixed rates close to 4.4% as the 10 year treasury rate yield has moved higher.
In the last few days we have seen the 10 year treasury rate yield move up to 3.1% which in turn is push mortgage rates slightly higher. Even though this is the case many Americans can still stand to benefit by going to the refinance process in mid-June of 2011. The general rule of thumb is that these homeowners should desire to save at least one full percentage point to fully benefit from the low interest rate environment.
Unfortunately, some Americans have made poor financial decisions in the recent past which in turn could make it very difficult to lock into the lowest mortgage interest rates. By having a credit score that is above 740 and a debt to income ratio below 40% most Americans will find that they have positioned themselves very well when it comes to saving money by going to the refinance process.
Remember that an interest rate is greatly determined by financial history so it may be wise to pay down high interest-rate debts before going into the refinance process. The HUD website will help better explain each and every step of the refinance process as there are some negotiating steps that will allow Americans to save quite a bit of money. By negotiating lower costs and fees some individuals could end up saving hundreds and possibly even thousands of dollars.
Author: Heather Best
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