Compare Mortgage Interest Rates Today – Fixed VA, FHA and Conventional 30 Year Home Loans Dip to New 2011 Lows
Posted on | August 9, 2011 | Comments Off
As the overall economy continues to struggle and the stock market tanks we see the 10 year treasury rate yield well below 2.5%. This has helped to push 30 year fixed mortgage rates to 2011 lows very close to 4%. With this being true it comes as no surprise to see many looking to compare mortgage interest rates today.
When it comes to finding the lowest fixed the VA, FHA or conventional 30 year refinance rates it is very important to recognize that individuals must have a very good financial history to have any opportunity at these low rates. Unfortunately, some Americans have made poor financial decisions in the recent past which can make it nearly impossible to lock into the lowest refinance rates.
The general rule of thumb is that individual should desire to save at least one full percentage point if they plan to benefit from the refinance process. Unfortunately, some Americans going to the refinance process blind and do not recognize that closing costs and fees could end up how weighing the benefits even if they block into a lower interest rate.
This is why it is imperative to use the many free mortgage calculators available online. These calculators should help individuals better understand what interest rate is desired for their current financial situation. As stated earlier, it is often true that saving one full percentage point will help individuals save when going through the refinance process.
In August of 2011 there are currently over 7000 financial institutions insured by the FDIC. With this in mind it may be a very wise choice to get competitive interest rate quotes for many local, regional and national lenders that are spread throughout this country. This could help individuals save quite a bit of extra cash as they pay off their home.
Author: Alan Lake
Tags: compare mortgage interest rates today > fixed conventional mortgage rates > fixed fha home loans > fixed home loan rates > fixed va home loans > home loan interest rates