FHA Home Loan Rates December 28 – Mortgage Rates Move Up
Posted on | December 28, 2009 | No Comments
FHA home loan rates for December 28th, 2009 are up again today as the 10 year yield continues its trek higher. The conventional 30 year fixed rate mortgage is at 5.04% while the conventional 15 year fixed is at 4.47%. The conventional 5/1 ARM is going along with the trend and is up to 4.03%. This comes on the news that a Morgan Stanley analyst feels that mortgage rates are going to move to 7.5% to 8% very soon due to the government interaction in the treasury markets.
FHA home loan rates are still very low at the moment but there are many signs that mortgage interest rates are going to move higher in 2010. If the Federal Reserve Bank stop purchasing mortgage backed securities in March then there is a very good chance that we could see mortgage rates move up a full percentage point. This is after we have seen a half of a percentage point move higher since the beginning of December.
If you have considering refinancing or locking in to a low mortgage rate it might be a good idea to get your mortgage application submitted. The idea of 8% mortgage rates is not very attractive to most home owners so do not miss out on the current opportunity to lock into a low rate under 6%.
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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