Compare Mortgage Interest Rates Today – Refinance FHA and VA Loans from Bank of America and Wells Fargo Higher
Posted on | June 30, 2011 | Comments Off
Over the last few days we have seen the 10 year treasury rate yield move much higher which in turn has pushed 30 year fixed mortgage interest rates to a level around 4.5%. With this being the case many homeowners are looking to compare mortgage interest rates today hoping to find the lowest refinance VA or FHA home loan rates.
Two of the largest financial lenders in the country include Bank of America and Wells Fargo and these mortgage lenders are reporting 30 year fixed conventional rates getting very close to 5%. It is important to note that these interest rates are only available to the best borrowers of money who have a credit score above 740.
It is also suggested the borrower should have a debt to income ratio below 40% and a significant amount of home equity before going into the refinance process. By meeting these financial requirements most homeowners will find that there are many opportunities to save money in the current low interest rate environment.
Even though Bank of America and Wells Fargo are two of the largest financial institutions in the nation it is important to recognize that there are a good number of options available. By using the FDIC search website most Americans will find many local, regional and national lenders that will be more than willing to go above and beyond to help when it comes to refinancing in July of 2011.
Better understanding each and every step of the refinance process is very important. Accessing the HUD website should help many better recognize the steps that will allow negotiating to occur. By negotiating lower costs and fees some homeowners could end up saving hundreds and possibly even thousands of dollars.
Author: Alan Lake
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