Whats Keeping You From Getting The Lowest Mortgage Interest Rate/Lowest Monthly Mortgage Payment?I know so many people are used to talking to live people about mortgage matters. However you can cover so much more ground online. The websites will calculate what you qualify for and some have live help to assist you.
It has been told that the Federal Reserve Bank will stop purchasing mortgage backed securities by the end of March.There is a possibility that this could drive the mortgage rates up a full per. point. This being said do your research and find out what you have to do to qualify for a lower mortgage payment.
Hopefully they stay low but one can never be so sure.
Currently a 30 year fixed mortgage interest rates around 4.8% while a 15 year fixed mortgage interest rates are around 4.2%. These are the averages of conventional mortgage rates.
Depending on the equity in your home and credit score you may be able to refinance below 5%. Your credit score may have to be above 740 ish.
The point is if you lower your home mortgage interest rate you lower your monthly payment.
Now Go Lower Those Rates!
Mortgages and Refinancing : Get the Best Rates (Entrepreneur Pocket Guides)
Mortgages For Dummies
Consumer Handbook on Adjustable Rate Mortgages