Today’s Lowest FHA Mortgage Rates – 30 Year Fixed Rates Around 4.8%
Posted on | February 25, 2010 | No Comments
Today’s lowest FHA mortgage rates are coming in around 4.75% to 5% at most mortgage lenders. The average interest rate for the conventional 30 year fixed mortgage is approximately 4.82% at the present time. The average conventional rate for the 15 year fixed is around 4.25%.
Most mortgage lenders are stating that FHA mortgage rates and conventional mortgage rates are coming in very close in the current economic environment. You must understand that there are insurance obligations that come with an FHA mortgage that you will need to calculate when finding the lowest mortgage rate for you.
The 10 year treasury rate yield has continued to move sideways for the last few weeks. This has greatly helped to push mortgage rates lower as the 10 year treasury rate yield and the 30 year fixed mortgage rate have a very strong correlation. If the 10 year yield finds solid footing then we could see both the yield and mortgage rates start to move higher.
For almost a year we have seen the 10 year treasury rate yield moves sideways to higher as the 200 day moving averages started to move up. This is a sign that there is a bull market in treasury yields which could push mortgage rates higher over the next several months in several years.
Author: Alan Lake
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