FHA Home Loan Rates October 30 – Current Rates Down
Posted on | October 30, 2009 | No Comments
FHA home loan rates for October 30, 2009 are down as the 10 year treasury rate yield drops. The conventional 30 year fixed rate mortgage is at 4.8% while the 15 year fixed rate is at 4.27%. The conventional 5/1 ARM is actually bucking the trend and is up to 3.79%. FHA home loan rate are generally .5% to .75% higher than conventional mortgage but they still remain low.
The 10 year treasury rate yield is currently testing its 50 day moving average at 3.4%. Next week should get very interesting when it comes to the 10 year yield. We are either going to see a breakdown through this level of support or we are going to see a bounce to higher yields. Whichever situation happens is going to greatly affect mortgage interest rates.
With mortgage rates still very close to historic lows it is a great time to refinance your home loan or lock in to a low mortgage rate on your first mortgage. There are many lenders out there that are more than willing to help you apply for these low rates so there is no reason for you to pass up on this 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
Comments
Leave a Reply