FHA Loan Rates September 27 – Mortgage Refinance Rates Low
Posted on | September 27, 2009 | No Comments
FHA loan rates for September 27th, 2009 remain at extremely low levels. Conventional 30 year fixed mortgage rates are at 4.93% which means that the 30 year FHA loan rate is around 5.68% because FHA loan rates are generally between .5% and .75% higher than conventional mortgage rates. When looking at a history of FHA loan rates or mortgage rates in general, these rates are still extremely low.
This weekend is not likely to lead us to any conclusions but there has been some movement. Starting the weekend we were right around 5% and now the 30 year fixed is at 4.93%. If there is any way that mortgage rates could break 4.9% with any strength this week we could see low levels around 4.75%. This would be great for anyone who has the desire to go through the home refinance process.
If you currently have a mortgage rate over 6% it is very possible that you would greatly benefit from refinancing at current mortgage rates. If you wait until the end of next month you might find that mortgage rates are moving up. The Federal Reserve Bank plans to stop buying US Treasuries by the Halloween which is likely to push mortgage rates higher even if it is only .25%.
Make sure to check out Subprime Blogger on a daily basis for your FHA loan rates. We will display the current FHA loan rates as well as a short commentary similar to the above column. Bookmark the following FHA Loan Rates category to gain easier access to our daily FHA rates column:
Author: Mike Garner
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