Today’s Lowest FHA Mortgage Rates – Interest Rates Push Higher into Early April
Posted on | March 31, 2010 | No Comments
Today’s lowest FHA mortgage rates have moved up to 4.95% for the 30 year fixed mortgage rate and 4.3% for the 15 year fixed mortgage rate. At the present time many mortgage lenders are reporting that conventional mortgage rates and FHA mortgage rates are coming in very close.
Over the last several weeks we have seen the 10 year treasury rate yield create a base and just last week we saw it break through its 50 day moving average. There’s a very good chance that the 10 year yield could push much higher over the next few days which will also push mortgage rates up.
Since 1971 the 10 year treasury rate yield and 30 year fixed mortgage rates have had a very strong correlation. In 2010 little has changed as 10 year yields are likely to pull mortgage rates higher. It will be very interesting to see how the 10 year yield reacts over the next few weeks.
With FHA mortgage rates still below 5% it might be wise to take action sooner rather than later. If you continue to wait there’s a very good chance that mortgage rates could move higher and you could be looking at a 30 year fixed rate closer to 6% than 5%.
Author: Heather Best
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