Today’s Lowest Mortgage Interest Rates – Countrywide, Bank of the West and BB&T Home Loans Drop Early on June 23
Posted on | June 23, 2011 | Comments Off
On June 23, 2011 we are seeing 30 year fixed mortgage interest rates drop slightly due to the fact the 10 year treasury rate yield is testing 2011 lows once again. This is not surprising as the 10 year yield has struggled to stay above 3% for quite some time. Some of the mortgage lenders that are reporting fixed low interest rates include Countrywide, Bank of the West and BB&T.
At the present time we are seeing 30 year fixed mortgage interest rates around 4.3% for the best borrowers of money. It is very important to recognize that only borrowers with good credit score above 740 and a debt to income ratio below 40% will have any opportunity to lock into the lowest mortgage interest rates today.
With this in mind it is always a wise choice to pay down high interest rate debts to the best of one’s ability. Unfortunately, some Americans continue to build up high interest rate revolving credit card debt which makes it nearly impossible to lock into low interest rates on any type of money borrowed whether it be a home loan, car loan, personal loan or credit card.
As we get closer to the summer of 2011 it will be very interesting to see what happens with overall interest rates. Many analysts have predicted for quite some time that interest rates could move up as the overall economy improves. With that being said the unemployment rate has recently moved up to 9.1% and many of Americans are still struggling with personal finances.
It is also important to recognize that there are over 7000 FDIC insured financial institutions throughout the United States. By doing research online many homeowners will find that there are an abundance of options at the local, regional and national level in June of 2011.
Author: Mike Garner
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