Today’s Lowest Mortgage Interest Rates – Fixed 15 and 30 Year Home Loans Moving Higher with 10 Year Yield
Posted on | September 27, 2011 | Comments Off
Over the last three days we have seen the ten-year treasury rate yield bounce off a bottom around 1.67% and has quickly moved towards 2%. With the 10 year treasury rate yield at this level it is still possible for some Americans to refinance a home loan to a level well below 5%.
When seeking today’s lowest mortgage interest rates it is very important to recognize that not all Americans can lock into the lowest rates in September of 2011. The general rule of thumb is that individuals must have a credit score above 740, a significant amount of home equity, and a very low debt to income ratio below 40% to have any chance to lock in a 15 or 30 year fixed rates near their lowest levels.
Individuals who have made very good financial decisions in the recent past will likely find that 30 year fixed mortgage rates as low as 4.25%. With this being the case many homeowners will find that refinancing is quite valuable as it will save them several hundred dollars each and every month on a home loan payment.
As we get closer to the winter of 2011 will be very interesting to see what happens with the 10 year treasury rate yield as some analysts predict that it has hit the bottom. Even if the 10 year yield was up slightly and will likely be true that the 30 year fixed mortgage remains under 5% for quite some time.
There many major mortgage lenders nationwide but it may also be a wise choice to take advantage of some of the local and regional lenders. By doing extensive research on the FDIC search tool individuals will find that there are a large number of local and regional banks that will be more than willing to go above and beyond to help new customers.
Author: Jeremy North
Tags: fixed home loan rates > fixed mortgage interest rates > lowest fixed home loans > lowest home loan rates > lowest mortgage interest rates > today's lowest mortgage rates