Compare Mortgage Interest Rates Today – Current VA and FHA Bank of America, Chase and Wells Fargo Home Loans at 4.5% or Lower
Posted on | June 25, 2011 | Comments Off
It has been a very volatile few weeks for the 10 year treasury rate yield which has pushed mortgage rates all over the place. In the last 14 days we have seen 30 year fixed mortgage rates as low as 4.2% and as high as 4.5%. At the present time we are seeing 30 year conventional rates in the area of 4.3% for the best borrowers of money.
With interest rates remaining very low it comes as no surprise to see many looking to compare mortgage interest rates today. When seeking current VA and FHA home loan interest rates from major lenders such as Bank of America, Chase or Wells Fargo it is important to recognize that these banks only offer the lowest rates to borrowers with an amazing financial history.
By having a credit score that is above 740 and a debt to income ratio that is under 40% most American homeowners will be in a great position to refinance to some of the lowest levels in history. Without these financial requirements it should come as no surprise to see mortgage lenders offering higher interest rates on home loans.
While Wells Fargo, Bank of America and Chase are three of the largest banks in the United States it is always advisable to check out every option available. By doing extra research online most will find that there are plenty of regional and local mortgage lenders that are willing to take every step to get new customers.
Before making any major financial decision in life it is always important to step back and look at the big picture. Unfortunately, there are closing costs involved in the refinance process so it is imperative to save at least one full percentage point. By not saving this one full percentage point most will find that closing costs outweigh any savings benefits.
Author: Alan Lake
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