Over the last week we have seen 30 year fixed mortgage rates drop to new 2011 lows as most regional and national banks are reporting 30 year fixed rates around 4.4%. When looking for the lowest home mortgage refinance loan rates on May 25 and will likely be the case that homeowners have an amazing opportunity to save money if they have made strong financial decisions in the recent past.
Some of the most popular national banks that are offering extremely low interest rates include Fifth Third Bank, HSBC and Capital One Bank. It is very important to remember that there are over 7000 FDIC insured financial institutions throughout the country so there are many opportunities at the local, regional and national level.
As we get closer to the summer of 2011 there’s a strong possibility that we could see interest rates start to move higher due to the fact that the economy is improving. For quite some time analysts have predicted that the overall economy is going to get much better which could push interest rates higher but this has yet to happen in 2011.
But the unemployment rate drops well below 8% and the economy continues to improve with the stock market reaching multi-year highs each and every month than there is a strong possibility that 30 year fixed mortgage rates could accelerate through 5%. With that being said we have recently seen the unemployment rate tick up from 8.8% to 9%.
If individuals are looking to save money by refinancing it would be advisable to start research today to better understand what options are available. By continuing to wait and hope that interest rates drop some Americans could miss out on an opportunity to save hundreds and possibly even thousands of View the original article here
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