FHA Home Loan Rates November 5 – Current Rates Up
Posted on | November 5, 2009 | No Comments
FHA home loan rates for November 5th, 2009 are up early as we are seeing a rise in the 10 year treasury rate yield this week. The conventional 30 year fixed rate mortgage is up to 4.97% while the 15 year fixed rate is at 4.32%. The conventional 5/1 ARM is also up to 3.84%. FHA home loan rates are generally .5% to .75% higher than conventional mortgage rates so you can do the math and see that FHA home loans are still very attractive.
Early in the trading day we are seeing the 10 year treasury rate yield basically unchanged but this is after a day in which the 10 year yield was up over 2%. If the current up trend in the 10 year yield continues then there is a good chance that it is going to pull mortgage interest rates along with it. If the summer high of 4% is tested then there is a strong possibility that we will see mortgage rates around 5.5%.
Many analysts have predicted mortgage rates in the 5.5% range until March 2010 and then for rates to move up another full percentage point after the Fed stops buying mortgage backed securities. The Fed continues to state that they are going to stop buying mortgage backed securities by March 2010 but this could change at any time. Refinancing now would be a great idea with mortgage interest rates still low.
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: Jeremy North
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