FHA Home Loan Rates December 1 – Mortgage Rates Little Changed Today
Posted on | December 1, 2009 | No Comments
FHA home loan rates for December 1st, 2009 are little changed but still very close to all time lows. Today we are seeing the conventional 30 year fixed rate mortgage at 4.54% while the conventional 15 year fixed mortgage rate is at 4.15%. The conventional 5/1 ARM is down to 3.6%. FHA home loan mortgage rates have been coming in very close to conventional mortgage rates and sometimes even a bit lower. It is always best to check with your lender to get an accurate FHA home loan rate.
Mortgage interest rates have been in a steady downward trend since the beginning of September. There have been some slight moves higher along the way but the overall trend is definitely down. No one really knows when mortgage rates are going to hit a bottom but it would not be wise to try and time the bottom. Applying for a low rate mortgage today could save you hundreds a month on your mortgage payment and you might not want to risk losing that chance.
Most mortgage lenders are currently advertising mortgage rates well below 5%. Please understand that each individual homeowner is going to find that they qualify for a different mortgage rate based on the equity in their home and their credit score. If you are not confident in these two areas then getting a mortgage rate under 5% might not be available to you but there is no reason not to at least apply.
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
Comments
Leave a Reply