FHA Home Loan Rates December 7 – Interest Rates Higher
Posted on | December 7, 2009 | No Comments
FHA home loan rates for December 7th, 2009 are higher today. We are currently seeing the conventional 30 year fixed mortgage rate at 4.8% while the conventional 15 year fixed mortgage rate is up to 4.24%. The conventional 5/1 ARM is also up to 3.77%. Many lenders have reported FHA home loan rates close to or even below conventional mortgage rates but make sure to check with your personal lender before making any assumptions.
The 10 year treasury rate yield saw a great move higher last week. The 10 year treasury rate yield was up over 7% last week and this is a strong reason as to why mortgage interest rates have bounced from 4.49% all the way up to 4.8%. No one knows if this rally in the treasury yield will continue but if it does there is little doubt that we will see mortgage rates react accordingly.
If you have been thinking about refinancing now might be one of the best times ever. Many home owners were hoping to time the bottom of mortgage rates but that is nearly impossible. If you waited just one week you have seen the 30 year fixed moved up by .3%. Rather than trying to time the market it might be a good idea to go ahead and submit a mortgage refinance application so you are first in line when 2010 rolls around.
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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