FHA Home Loan Rates January 27 – Mortgage Interest Rates Drop to 2010 Lows Today
Posted on | January 27, 2010 | No Comments
FHA home loan rates for January 27th, 2010 have dropped to 2010 lows. We are currently seeing the conventional 30 year fixed mortgage rate at 4.78% while the conventional 15 year fixed mortgage rate is down to 4.21%. The conventional 5/1 ARM is also down to a new low of 3.62%. The 10 year treasury rate yield is sitting right on its 50 day moving average which could hold as support but we are waiting to see the next move.
If the 50 day moving average for the 10 year yield holds as support then you can expect mortgage interest rates to move back up. We might be seeing the last of low mortgage interest rates if this is the case. Many analysts have predicted higher interest rates in 2010 and this might be the last fall out before the 30 year fixed mortgage rate starts moving back towards 5% and possibly even higher.
No one knows when mortgage rates are going to start moving back up but it is likely to happen. The Federal Reserve Bank plans to stop purchasing mortgage backed securities in March of 2010 which is sure to affect mortgage rates. Many analysts have predicted that this is going to push mortgage rates up as much as .5% to 1%; 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: Jeremy North
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