Today’s Lowest Mortgage Interest Rates – PNC Bank, RBC and Wachovia 30 Year Fixed Home Loans Up Slightly
Posted on | June 28, 2011 | Comments Off
As American homeowners continue to realize the interest rates are very close to all-time lows it comes as no surprise to see many hard-working individuals seeking today’s lowest mortgage interest rates. Some regional banks that are offering interest rates around 4.3% include PNC Bank, RBC and Wachovia.
While these are some of the largest regional banks in the country it is important to recognize that there are over 7000 FDIC insured financial institutions throughout the country. Rather than assuming that they’re just a few options that may be a wise choice to access FDIC.gov and better understand what banks are in a specific area.
Today we are seeing the 10 year treasury rate yield up slightly which is push 30 year fixed mortgage rates to 4.3%. In the last few days we have seen 30 year fixed rates as low as 4.2% but the recovery in the 10 year treasury rate yield has pushed home loans up slightly.
Even though this is the case there still many opportunities to save a significant amount of cash by going to the refinance process. It is important to note that there are closing costs involved in refinancing. The general rule of thumb is that a homeowner should desire to save at least one full percentage point. By not sending one full percentage point it is often true that customers will find the closing costs greatly outweigh the benefits of refinancing.
When making any major financial decision in one’s life is always important to step back and look at the big picture. A home is one of the largest investments most Americans will make to getting the lowest interest rate possible could save a significant amount of money but unfortunately some individuals have made poor financial decisions in the past. This can make it extremely difficult to get low interest rates and may make the process null and void.
Author: Mike Garner
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