Today’s Lowest FHA Mortgage Rates – Interest Rates Up on March 25
Posted on | March 25, 2010 | No Comments
Today’s lowest FHA mortgage rates are coming in very close to conventional mortgage rates but interest rates are definitely up on March 25th. We are seeing the 30 year fixed mortgage rate up to 4.99% and the 15 year fixed mortgage rate up to 4.3%. It will not be surprising at all to see mortgage rates move well above 5% today.
Yesterday we saw the 10 year treasury rate yield explode through its 50 day moving average. This coupled with the conclusion of the Federal Reserve Bank mortgage backed securities purchase programs is a sign that mortgage interest rates are likely to move much higher in the spring of 2010.
Many analysts have been predicting that mortgage rates would move higher around this time and we might be seeing the beginning of the first leg higher. Over the last 24 hours the 30 year fixed mortgage rate has move up over .25%. It will be very interesting to see the quotes for FHA and conventional mortgage rates today.
When deciding on an FHA mortgage please remember that there are insurance obligations. It is sometimes worth it to get a conventional mortgage with a slightly higher interest rate because you can avoid the insurance costs. It would be wise to site down with a pencil and paper and decide which loan type is right for you.
Author: Alan Lake
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