FHA Home Loan Rates November 12 – Rates Continue Lower
Posted on | November 12, 2009 | No Comments
FHA home loan rates for November 12th, 2009 continue lower. The conventional 30 year fixed mortgage rate is down to 4.7% while the 15 year fixed is down to 4.21%. The conventional 5/1 ARM is unchanged to 3.59%. FHA home loan rates have been quoted as low as 3.5% by some lenders; at this time you are going to see FHA rates as much as 1% lower than conventional mortgage rates.
Today we found out that the FHA is much weaker than we expected. Over the next few months there is a good chance that the FHA is going to start to tighten their lending practices. With this being the case, you might want to do your best to get a FHA home loan as soon as possible so you can lock in to a very low mortgage rate.
Many analysts are pointing out that mortgage rates are starting to make a run at the all time low that was reached back in March 2009. We have seen mortgage rates drop to the 4.7% level which is just a few percentage points away from the all time low of 3.61%. Please understand that this all time low was an average for a week not just a one day event.
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: Tiffany Mann
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