FHA Home Loan Rates October 20 – Current Rates Unchanged
Posted on | October 20, 2009 | 1 Comment
FHA home loan rates for October 20th, 2009 are unchanged. Current conventional 30 year mortgage interest rates are at 4.82% while the conventional 15 year mortgage rate is at 4.33%. The 5/1 ARM is up slightly to 3.91%. FHA home loan rates are generally .5% to .75% higher than conventional mortgage rates. Even with this slight premium for FHA rates they are still extremely low when looking at history.
The 10 year treasury rate yield is down over 2% early this morning so it looks as if the move above the 50 day moving average was not enough to extend the up trend. If now seems that the 10 year yield is going to grind sideways to down until the yield hits the 200 day moving average around 3.2%. With this in mind, mortgage rates are likely to move sideways or fall as well.
The drop in mortgage rates is not likely to be drastic as the 10 year yield does not have a great distance to fall before it hits its 200 dma. The support level of the 200 dma has already held once and is starting to up trend. With the 200 dma up trending that is often a sign that the long term trend is turning higher. WIth the Fed concluding their US Treasury purchase program there is a great chance that the long term trend has turned up for both the 10 year yield and mortgage interest rates.
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: Heather Best
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October 20th, 2009 @ 8:09 am
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