Today’s Lowest FHA Mortgage Rates – Refinance Fixed and Adjustable Loans Hit New Multi Month Highs in December 2010
Posted on | December 15, 2010 | No Comments
Since the beginning of November 2010 we have seen a steady move higher in the 10 year treasury rate yield which in turn has forced today’s lowest FHA mortgage rates to move up as well. With millions of Americans looking to save money by going to the refinance process in 2010 it will be very interesting to see what happens if interest rates continue to move up.
At the present time we are seeing 30 year fixed conventional mortgage rates around 4.75% which is .75% higher than at the beginning of November. Both fixed and adjustable mortgage rates have moved up drastically over the last six weeks which could cause many American homeowners to second-guess going to the refinance process.
The Federal Reserve Bank continues to keep their stance on interest rates that they have repeatedly stated that as the economy recovers it will be the case that they no longer take the necessary steps to keep interest rates low. If we continue to see an improving economy than there is a very good chance that we could see 30 year fixed mortgage rates well above 5% in 2011.
Taking advantage of the currently low FHA mortgage rates could be greatly beneficial to those who are looking to save a little bit of extra cash. Even though today’s lowest FHA mortgage rates are not nearly as well as they were at the beginning of November and is still the case that they are historically low when looking at a long-term chart.
It is also important to remember that it takes a very impressive financial history to have any opportunity to lock in to the lowest possible rates. Unfortunately, there are many Americans who have made bad financial decisions which in turn could make it extremely difficult to lock in to allow FHA mortgage rates during the months of January or February 2011.
Author: Jeremy North
Tags: 30 year fixed fha rates > lowest fha fixed rates > lowest fha mortgage rates > lowest fixed adjustable rates > lowest fixed refinance rates > today's lowest rates
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