Compare Mortgage Interest Rates Today – Wells Fargo, Chase and Wachovia VA and FHA Home Loans Under 5% Ending July 2011
Posted on | July 29, 2011 | Comments Off
Heading into the final weekend of July 2011 we are seeing 30 year fixed home loan interest rates very close to yearly lows as the 10 year treasury rate yield remains under 3%. With this being true many American homeowners will likely seek opportunities to compare mortgage interest rates today in hopes of finding ways to save money.
Some of these individuals will seek VA or FHA home loan interest rates from Wells Fargo, Chase or Wachovia. While these are some of the largest financial institutions in the country it is important to recognize that there are a plethora of options available as the FDIC insures over 7000 institutions.
At the present time we are seeing 30 year fixed conventional mortgage rates as low as 4.3% for borrowers with a great credit history. This means that individuals must have a credit score that is about 740 and a debt to income ratio that is below 40%. Unfortunately, many individuals who have made poor financial decisions over the last several years are going to find it very difficult to improve a credit score.
By paying down high interest rate unsecured credit cards and personal loans some Americans could greatly improve their credit score. Unfortunately, most Americans do not have extra cash laying around they can be used to pay down these high interest rate debt obligations. This is why it is often true that individuals do not have an opportunity to refinance to the lowest rates.
If individuals have made very good financial decisions over the last several years that it may be wise to contact several mortgage lenders. By getting interest rate quotes from local, regional and national lenders individuals will likely find that they can know though she lower costs and fees which in turn could save hundreds and possibly even thousands of dollars.
Author: Mike Garner
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