Today’s Lowest FHA Mortgage Rates – Interest Rates Moving Up in Late March?
Posted on | March 4, 2010 | No Comments
Today’s lowest FHA mortgage rates are around 4.75% for the 30 year fixed mortgage rate and 4.15% for the 15 year fixed mortgage rate. At the present time conventional mortgage rates and FHA mortgage rates are being quoted at very similar levels. Unfortunately, there is a very good chance that interest rates could be moving up in late March.
Many analysts and CEOs have predicted that mortgage interest rates are going to start moving higher in the spring of 2010. The reason for this prediction is that the Federal Reserve Bank is going to stop buying mortgage backed securities at the end of March. If this is the case mortgage rates could move up by one full percentage point.
Many Americans have had the opportunity to refinance in the current low interest rate environment and some of these homeowners are saving hundreds of dollars on their monthly mortgage payments. Those who have yet to refinance might want to take action today before interest rates start to move higher.
Another reason that mortgage interest rates could move higher is the fact that the 10 year treasury rate yield continues in an uptrend. After the Fed stops mortgage backed securities we can expect the 10 year treasury rate yield to have an even strong affect on the 30 year fixed mortgage rate.
Author: Tiffany Mann
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