Today’s Lowest Mortgage Interest Rates – Home Mortgage Loan Rates at 4.75%

Posted on | March 24, 2010 | No Comments

Today’s lowest mortgage interest rates are around 4.75% for the 30 year fixed mortgage. With home loan rates continuing to move lower in the month of March many homeowners have had the opportunity to refinance to a lower mortgage interest rate.

Some of these homeowners are seeing several hundred dollars of savings when it comes to their monthly mortgage payment. If you have considered refinancing in the past it might be a wise decision to do it sooner rather than later. There are many mortgage lenders that will be more than willing to help you.

It is important to know that you will need a significant amount of equity in your home and a very impressive credit score to have any ability to refinance under 5%. If your credit score is below 740 and you have little home-equity you can almost forget about refinancing to a low mortgage interest rate.

If the opposite is true and you have made very strong financial decisions over the last few years then you will save money by refinancing today. There are many mortgage lenders that will allow you to go through a preapproval process where you can find out what mortgage rate you will likely qualify for.

Author: Mike Garner
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Decision regarding your home loan equity will depends if it will benefit you or not.