FHA Home Loan Rates December 8 – Mortgage Rates Drop
Posted on | December 8, 2009 | No Comments
FHA home loan rates for December 8th, 2009 are seeing a drop. The conventional 30 year fixed mortgage rate has dropped to 4.67% while the conventional 15 year fixed mortgage rate is down to 4.17%. The conventional 5/1 ARM is also down to 3.75%. FHA home loan rates have been coming in very close to conventional mortgage rates and sometimes even lower than conventional rates. It would be wise to check with your lender to find out which FHA loan rate you qualify for.
Mortgage interest rates have been very volatile over the last two weeks as the 30 year fixed moved all the way down to an all time low of 4.49% before moving up to 4.76% and now back down to 4.67%. Much of this is due to the fact that the 10 year treasury rate yield has been all over the map. Last week we saw a gain of over 7% in the 10 year yield while it has pulled back almost 3% so far this week. The big swings in the 10 year yield has definitely had a strong influence on mortgage rates.
Even with the volatile mortgage rate environment now is still a great time to lock in to a low mortgage rate. With the government working very hard to keep interest rates low there is no reason that you should not take advantage of this opportunity. The are many mortgage lenders who are currently advertising mortgage rates under 5% so you might want to contact them and see what rate you can get.
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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