FHA Home Loan Rates November 4 – Mortgage Rates Much Higher Today
Posted on | November 4, 2009 | No Comments
FHA home loan rates for November 4th, 2009 are much higher. Today we are seeing the conventional 30 year fixed mortgage rate up to 4.9% while the 15 year fixed mortgage rate is up to 4.33%. The conventional 5/1 ARM is also up to 3.85%. It is still very early on Wednesday morning, 9:00 am eastern, but we are seeing a strong move higher in mortgage interest rates. FHA home loan rates are generally .5% to 1% higher than conventional mortgage rates.
The 10 year treasury rate yield bounced off its 50 day moving average yesterday and is up again early today. This might be the beginning of bull market mode for the 10 year yield. If this is the case we are going to see the 50 day moving average turn up and there is a good chance that the 10 year yield will get all the way back up to the summer highs around 4%.
What exactly will this do to mortgage interest rates? The 10 year treasury rate yield and the 30 year fixed rate mortgage have had a strong correlation since 1971 and that has not changed much into 2009. When the 10 year treasury rate yield starts to move higher it is all in due time before mortgage rates move up as well; we are seeing this full illustration today.
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: Mike Garner
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