FHA Home Loan Rates February 1 – Mortgage Rates Mixed Today
Posted on | February 1, 2010 | No Comments
FHA home loan rates for February 1st, 2010 are mixed today. We are seeing the conventional 30 year fixed mortgage rate down to 4.85% while the conventional 15 year fixed mortgage rate is up to 4.31%. The conventional 5/1 ARM is also down to 3.8%. At the present time conventional mortgage rates and FHA home loan rates have been very similar. It would be wise to contact your lender to get a much more accurate rate quote.
The 10 year treasury rate yield has been higher today but it has done very little to affect mortgage interest rates. Many analysts continue to state that they feel that mortgage rates are going to move higher in the very near future. It will be interesting to see when this move higher starts but do not be surprised if it happens in February or March as the Fed plans to stop buying mortgage backed securities by the end of March 2010.
With this being the case it might be wise to lock into a low FHA home loan rate in early February rate than wait. The longer you wait the more likely it is going to be that you see higher mortgage rates. Do not be surprised to see the 30 year fixed mortgage rate move up one full percentage point when the Federal Reserve Bank stops purchasing mortgage backed securities.
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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