Today’s lowest mortgage interest rates aren’t very attractive levels as refinance 30 year loan rates have dipped to 4.3% for borrowers to qualify. It is very important to remember that it takes an extremely good credit score and a very low debt to income ratio to have any opportunities to refinance at the current low levels of around 4.3% for the 30 year fixed.


It is also important to remember that there are closing costs involved in the refinance process. The general rule of thumb is that homeowners must save at least one full percentage point on their mortgage interest rate to fully benefit from the refinance process. Without saving this full percentage point the closing costs often outweigh the benefits.

There are many mortgage lenders spread throughout the United States who should not be difficult to find a low mortgage rate offer if the borrower meets the requirements. It is also important to exhaust the resources before making any final decisions as some mortgage lenders work much better with specific financial situations.

Author: Mike Garner