The average for 30 year fixed mortgage rates has been at or around 5% for much of 2010. Some of the larger banks and lenders that many Americans seek a low interest rate from include J.P. Morgan Chase, RBC, Nationwide and WaMu. Before making the assumption that these are your only options please understand that there are local banks and mortgage lenders that can help you as well.


Before making any final decision on a mortgage lender it would be very wise to step back and look at your current financial situation. If you are greatly struggling to make ends meet when it comes to your finances then you will want to address these issues before attempting to get a low interest rate. If your credit score has dropped you can almost guarantee that the interest-rate offer you will receive will not be as attractive as a high credit score offer.

With 30 year fixed mortgage rates being very low it would greatly behoove many Americans to improve their credit score to the best of their ability and lock in low rates now. There is a very good possibility that mortgage interest rates could move up in the near future and you do not want to be sitting on the sidelines as mortgage rates move toward 6%.

Author: Alan Lake