FHA Home Loan Rates January 7 – Mortgage Rates Mixed Today
Posted on | January 7, 2010 | No Comments
FHA home loan rates for January 7th, 2010 are mixed today. The conventional 30 year fixed mortgage rate is up to 4.96% while the 15 year fixed mortgage rate is down to 4.36%. The conventional 5/1 ARM is also down to 3.9%. We are currently seeing the 10 year treasury rate yield move sideways at 3.82% which is likely the reason mortgage rates are mixed.
By looking at a chart of the 10 year treasury rate yield you can clearly see that the yield is consolidating sideways between 3.75% and 3.85%. At one point we are going to break out of this range and it will be a good indicator as to where mortgage rates are headed. If we see the 10 year yield break below the 3.75% level then mortgage rates are likely to move back to the 4.75% range. If the yield moves above 3.85% you can expect to see mortgage rates above 5% very soon.
This consolidation pattern could last for quite a long period of time; possibly even weeks. We will keep you updated on the 10 year yield and update the 30 year fixed mortgage rate as well. Many analysts have predicted that the uptrend of the 10 year yield is going to push mortgage rates much higher; only time will tell.
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: Alan Lake
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