FHA Home Loan Rates October 24 – Mortgage Interest Rates Mixed
Posted on | October 24, 2009 | 1 Comment
FHA home loan rates for October 24th, 2009 are mixed early. The conventional 30 year fixed rate mortgage is down to 4.8% while the conventional 15 year fixed is up to 4.33%. The conventional 5/1 ARM is down to 3.7%. FHA home loan rates are generally .5% to 1% lower than conventional mortgage rates but you can see from these number that even FHA loan rates are extremely low.
If you have been thinking about refinancing or buying your first time now is a great time to lock in to a low mortgage rate. If you continue to wait and hope to pick the bottom of mortgage rates you are risking the chance that mortgage rates could hit a bottom and bounce much higher. With the Federal Reserve Bank concluding their US Treasuries purchase program by the end of this month there is a possibility that mortgage rates could go higher.
With many lenders advertising low mortgage rates there is no reason that you cannot take advantage of this opportunity. Weekends are very slow when it comes to mortgage rate movement because financial markets are close but during the week try to keep up with the 10 year treasury rate and mortgage rates as a whole to better predict where you think mortgage rates will go.
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 25th, 2009 @ 3:44 am
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