FHA Home Loan Rates December 10 – Mortgage Rates Higher
Posted on | December 10, 2009 | No Comments
FHA home loan rates for December 10th, 2009 are higher. This morning we saw the conventional 30 year fixed mortgage rate as high as 4.8% but has since pulled back to 4.7%. The conventional 15 year fixed mortgage rate is up to 4.23% while the conventional 5/1 ARM is stable around 3.7%. FHA home loan rates have been coming in very close to conventional mortgage rates and sometimes even lower. It might be a good idea to check with your lender and see what FHA loan rates you qualify for.
Mortgage interest rates have had a very volatile last few weeks mostly because of the wide swings by the 10 year treasury rate yield. After a week of being up over 7% last week we saw a quick 3% drop this week before bouncing off support levels. These wild swings make the mortgage market very interesting but often scare home owners away.
Even though we have seen some crazy moves in mortgage rates over the last few weeks rates are still very close to historical lows. When looking at history, a 30 year fixed mortgage rate of 4.7% is extremely attractive. Many homeowners would be very happy to lock into a rate below 5% so make sure to take advantage of this opportunity.
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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