FHA Home Loan Rates October 1 – Mortgage Interest Rates Up Today
Posted on | October 1, 2009 | 1 Comment
FHA home loan rates are up on October 1st, 2009. The 30 year fixed FHA rate is at 5.78% today which is up from yesterday. Mortgage interest rates finished the month of September falling after the Federal Reserve Bank meeting but it looks as if that trend might not hold true in October. The month of October will be an extremely important month for mortgage rates so make sure to keep an eye on mortgage rates.
The month of October is going to see the first time home buyer tax credit extension near expiration (November 30th to close) and the conclusion of the Federal Reserve Bank buying US Treasures. These two events are likely to cause mortgage rates to have great volatility. The bad part is that these two events are likely to push mortgage rates higher.
The good thing is that FHA loan rates and mortgage interest rates as a whole are very close to all time highs. Now is the time to lock in at these low rates because if you wait you might find that mortgage rates are going to start moving higher. It would not be surprising at all to see mortgage rates start to move up in October for the reasons mentioned previously.
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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One Response to “FHA Home Loan Rates October 1 – Mortgage Interest Rates Up Today”
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October 1st, 2009 @ 8:06 pm
I don’t know what planet you are on but rates were down today… across the board.