FHA Home Loan Rates October 3 – Current Mortgage Rates Unchanged
Posted on | October 3, 2009 | No Comments
FHA home loan rates for October 3rd, 2009 are stable this weekend. Current mortgage interest rates for conventional 30 year home loans are at 4.92% which would put 30 year FHA rates around 5.67%. WIth FHA loan rates about .75% higher than conventional rates you can expect FHA rates to follow the movements of conventional mortgage rates as a whole.
The movement of mortgage rates are likely to be very slight over the weekend as weekends in the Fall bring football and time to spend with family. All financial markets are closed and there is very little to affect mortgage rates. With this being the case you can expect that mortgage rates will have changes over the weekend but nothing to totally change the short or long term view of rates.
October will be an interesting month for mortgage interest rates because the Federal Reserve Bank is concluding their purchases of US Treasuries. They will continue to buy up mortgage backed securities but that will end by March 2010. When both of these purchase programs are concluded we are very likely to see mortgage rates much higher. At the end of October rates will possibly rise but only time will tell how high.
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: Alan Lake
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