Today’s Lowest FHA Mortgage Rates – Refinance 30 and 15 Year Loan Rates Up Significantly in December 2010
Posted on | December 14, 2010 | No Comments
Many homeowners are aware of the fact that mortgage rates have moved up drastically over the last six weeks. When looking for today’s lowest FHA mortgage rates it is important to remember that the 10 year treasury rate yield will greatly dictate where mortgage rates are headed in the near future.
As the 10 year treasury rate yield has accelerated higher is the case that 15 year and 30 year conventional mortgage rates have moved up as well. We have seen the 30 year conventional fixed mortgage rate move from 4.0% although I up to 4.75% and a matter of just six weeks.
As long as the 10 year yield continues to move higher and will likely be the case that 30 year fixed mortgage rates follow. Since 1971 the 10 year yield and 30 year fixed mortgage at had a very strong correlation and that will likely continue well into the future. In fact, it could be the case that this correlation strengthens as the federal reserve bank no longer take every step possible to keep interest rates low as the economy recovers.
Taking the time and effort to do research and find today’s lowest FHA mortgage rates could prove to be greatly beneficial. Remember that it takes an amazing credit score and equity in a home to have any opportunity to refinance to a low mortgage interest rate in December of 201o or in the early part of 2011.
Luckily, there are many free resources available online to help homeowners when it comes to finding today’s lowest FHA mortgage rates. It is important to recognize that each specific financial situation will greatly determine what interest rate will be applied to a mortgage loan. By having a very good financial history it will often be the case that customers have negotiating power over those who have a poor credit score and it made bad financial decisions in the recent past.
Author: Mike Garner
Tags: fha mortgage interest rates > fha mortgage loan rates > lowest fha mortgage rates > refinance 15 year fixed rates > refinance 30 year fixed rates > today's lowest fha rates
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