FHA Home Loan Rates November 24 – Mortgage Rates Drop
Posted on | November 24, 2009 | No Comments
FHA home loan rates for November 24th, 2009 are lower today. Conventional mortgage interest rates have dropped to near all time low levels. The conventional 30 year fixed mortgage rate is down to 4.64% while the conventional 15 year fixed rate is down to 4.21%. The conventional 5/1 ARM is actually going against the trend and is up slightly to 3.72%. FHA home loan rates have been quoted very close to conventional mortgages but make sure to check with your lender first.
The 10 year treasury rate yield is down significantly today which could help to push mortgage interest rates very close to new lows. The all time weekly low for the 30 year fixed mortgage rate is 4.61% and we are going to get very close that level by the end of December. If mortgage rates are at an all time going into January then there is a great chance that we could see a huge increase in mortgage applications; to a level we have never seen before.
Now is one of the best times in history to lock in to a low mortgage interest rate. Even though mortgage rates are likely to continue lower worth the risk of waiting too much longer. If anything happens as far as the purchasing program of the Federal Reserve Bank then there is a good chance that we could see mortgage rates move much higher; possibly all the way up to 5.5You do not want to wait for mortgage rates to move up this much before you get your mortgage application in.
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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