Compare Mortgage Interest Rates Today – Fixed Bank of America, Chase and Wells Fargo VA and FHA Rates Lower in July
Posted on | July 14, 2011 | Comments Off
On July 14th, 2011 we are seeing 30 year fixed home loan interest rates very close to 2011 lows as the 10 year treasury rate yield is around 2.9%. With this being true it comes is very little surprised to see a large number of hard-working Americans looking to compare mortgage interest rates today.
When seeking the lowest VA and FHA home loan interest rates from major lenders such as Bank of America, Chase and Wells Fargo it is important to recognize that there are many options available. While these three banks have branches throughout the United States there are still many local, regional and national lenders that can help would it comes to reducing a home loan payment.
The 30 year fixed mortgages around 4.25% for individuals who have made very strong financial decisions over the past several years. Unfortunately, many Americans have not made strong financial decisions which in turn has pushed their credit score much lower. A credit score that is well below 650 will make it very difficult to refinance in the current low interest rate environment.
Over the next several weeks it will be interesting to see what happens when it comes to refinance activity. Unfortunately, many Americans who would love an opportunity to save to not have the ability to pay for closing costs nor the impressive credit score to completely take advantage of the low interest rate refinance environment.
Luckily, there are many free resources online that should help Americans much better understand if they can benefit from the low interest rate environment. By using the many free mortgage calculators that are available online most will find that they must save at least one full percentage point to fully benefit from the refinance process. By not saving this one full percentage point most will see that closing costs outweigh benefits.
Author: Mike Garner
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