Compare Mortgage Interest Rates Online Today – Refinance Fixed September VA and FHA Home Loans Dip to New Lows
Posted on | September 22, 2011 | Comments Off
With the 10 year treasury rate yield at the lowest level in history many American homeowners are looking to find some of the most attractive refinance rates. At the present time the 10 year yield is at 1.7% which means that 30 year fixed mortgage rates are very close to 4% or possibly even lower.
With this in mind many are looking to compare mortgage interest rates online today. WIth the advancements in technology it is now much easier than it has ever been in the past to find mortgage rate quotes online. It is important to note that no rate quote is 100% accurate until customers go through the application process.
Over the next several weeks it will come as no surprise to see millions looking to refinance to a level around 4%. Even though this is a strong desire homeowners should realize that they need a very impressive credit score and a low debt to income ratio to have any chance at these very low rates.
By having a credit score of 740 or higher and a debt to income ratio under 40% most will find that they can lock in to some very low interest rates. Unfortunately, many have made poor financial decisions in the recent past and this can make it impossible to receive low rate quotes from any lenders throughout the country.
With the 30 year fixed mortgage rate under 4% most homeowners stand a great chance to save by refinancing. The general rule of thumb is that individuals should attempt to save at least one full percentage point before completing the refinance process. If they cannot save one percentage point then closing costs will almost always outweigh benefits.
Author: Tiffany Mann
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