FHA Loan Rates September 28 – New Lows for Mortgage Rates?
Posted on | September 28, 2009 | No Comments
FHA loan rates for September 28th, 2009 are continuing lower as the conventional 30 year fixed mortgage rates drops below 4.9%. The conventional 30 year fixed is at 4.87% which means that FHA loan rates are very close to 5.62%. This is the lowest we have seen FHA loan rates since the beginning of May. If the 10 year treasury rate yield continues to fall we could very well see new record lows for all mortgage rates.
The 10 year treasury rate yield was the sole reason that we saw mortgage rates move up this summer. After the 10 year yield rolled over and started down trending mortgage interest rates followed suit. The 10 year yield is now below its 50 day moving average and the average is in a strong down trend. If this down trend continues and the Fed continues to buy up mortgage backed securities then it is likely that all times lows are coming for mortgage rates in the near future.
If you have been thinking about buying a new home or refinancing now is a great time to get started. You can’t do any mortgage rates searches without seeing advertisements for rates under 5%. While you may not think you can get a mortgage rate this low you will never know until you actually contact some of these mortgage lenders and find out. It is time to take action and get a low mortgage rate.
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: Tiffany Mann
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