FHA Home Loan Rates October 27 – Interest Rates Stable Today
Posted on | October 27, 2009 | No Comments
FHA home loan rates for October 27th, 2009 are stable in light volume. We have not see much movement in mortgage interest rates as the volume as been extremely light on Tuesday morning. Currently, the conventional 30 year fixed rate mortgage is at 4.94% while the 15 year fixed is at 4.33%. The 5/1 ARM is down to 3.69%. Overall, FHA home loan rates are generally .5% to .75% higher than conventional mortgage rates so you can see that FHA home loan rates are very attractive.
The 10 year treasury rate yield has stabilized today after a strong move up yesterday. The move higher in treasury yields is an indication that mortgage rates have a very good chance of moving higher in the near future. If we continue to see treasury yields move up in an up trend then the possibility of higher mortgage rates gets much better.
If you have been thinking about refinancing, now is one of the best times in recent history. With conventional mortgage rates still below 5% now is the time to get your home refinance application in. If you wait until November begins then you might find that mortgage rates are moving higher and you missed out on a great opportunity.
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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