FHA Home Loan Rates February 5 – Today’s Mortgage Rates Drop to New Lows
Posted on | February 5, 2010 | 1 Comment
FHA home loan rates for February 5th, 2010 have dropped to new lows. Today’s mortgage rates continue lower and are getting very close to the lows of 2010. At the present time the conventional 30 year fixed mortgage rate is down to 4.81% while the 15 year fixed mortgage rate is down to 4.22%. Many mortgage lenders are reporting that FHA home loan rates are coming in very close to conventional mortgage rates.
With mortgage interest rates getting very close to 2010 lows many homeowners will consider refinancing in the near future. The problem that many mortgage lenders are seeing is that the amount of refinance activity continues to dwindle because those who have the ability to refinance have already done so. This is why there are so many television advertisments for first time home buyers.
Those who have been in the industry know that they should focus their efforts on first time home buyers because those who were looking to refinance have already done so. It will be very interesting to see if mortgage rates move up towards 6% quickly if the number of refinance applications will rise. It is likely that many homeowners will swarm to mortgage lenders in hopes of getting the last few weeks of mortgage rates; 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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One Response to “FHA Home Loan Rates February 5 – Today’s Mortgage Rates Drop to New Lows”
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February 5th, 2010 @ 10:39 pm
I was wanting to know how to refinance my house under the new interest rates. My current interest rate for my house is 6.25%. I can’t keep affording this house with that interest rate. Let me know how to get the low interest rate. Is this the obama’s plan to keep people from losing their homes or did he have another special plan that might help me out even more. Thanks for your time and would really love to hear back from u… Shane