Todays Lowest Mortgage Interest Rates – 15 and 30 Year Fixed Wachovia, Countrywide and Bank of the West Rates Near 2011 Lows
Posted on | July 25, 2011 | Comments Off
As we head into the end of July we continue to see both 15 and 30 year fixed mortgage rates very close to all-time lows. When seeking today’s lowest mortgage interest rates many individuals will seek financial assistance from banks such as Wachovia, Countrywide and Bank of the West. While these financial institutions are some of the largest regional banks in the country it is important to recognize that there are many options available.
As of July 25, 2011 we are seeing 30 year fixed mortgage rates around 4.35% while 15 year fixed mortgage rates are around 3.5%. It is very important to recognize that only the best borrowers of money will have any opportunity to lock in to these low rates as mortgage lenders are being very specific with their lending practices with the credit crisis and their recent memory.
Taking the time and effort to do extensive research on the financial situation can often prove to be greatly beneficial when it comes to locking in the lowest interest rates. Unfortunately, many Americans going to the refinance process blind and they may miss out on opportunities to negotiate lower costs and fees during this major move financial transaction.
It is also true that many individuals continue to build up high interest rate revolving credit card debt. Before going into a refinance process it may be wise to pay down high interest rate debts which in turn would drastically decrease the debt to income ratio. Homeowners should desire a debt to income ratio below 40% before making any major financial decisions when it comes to a home loan.
It would also be wise to contact several mortgage lenders at the local, regional and national level. By getting a competitive interest rate quote some individuals may have an opportunity to save hundreds of dollars each and every month on their mortgage payment.
Author: Jeremy North
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