Today’s Lowest FHA Mortgage Rates – 30 Year Fixed Refinance Home Loans Dip to Below 5% in December
Posted on | December 20, 2010 | No Comments
When looking for today’s lowest FHA mortgage rates is the case that many Americans are finding 30 year fixed rates around the 5% level. Since the beginning of November we have seen 30 year conventional fixed mortgage rates very volatile between 4.0% and 5.25%. It is important to recognize that it takes an amazing financial history to lock-in to the lowest possible interest rates.
Since the beginning of November 10 year treasury rate yield has accelerated much higher to a level above its 200 day moving average. Even though we have seen a slight pullback over the last few days it is still the case that the 200 day and 50 day moving average could help as a support level for this all-important yield.
The 10 year treasury rate yield on the 30 year fixed mortgage has had a very strong correlation since 1971 and that will likely continue well into the future. As the 10 year treasury rate yield moves higher it is the case that 30 year fixed mortgage rates move up as well. If the ten-year yield moves much lower than we will see today’s lowest FHA mortgage rates decline.
Each and every time the 10 year yield in mortgage interest rates have moved up over the last few years the federal reserve bank is stepped in and done everything possible to keep rates low. It’ll be interesting to see if this happens again in 2011 as the Federal Reserve Bank Chairman has stated many times that if the economy improves they will stop keeping interest rates near all-time lows.
No matter what the case it is still very important for homeowners to make strong financial decisions to make certain that they will receive the lowest interest rates possible. A credit score well above 740 and a debt to income ratio below 40% is extremely important when it comes to receiving low interest rates on any amount of money borrowed.
Author: Mike Garner
Tags: 30 year fixed fha rates > 30 Year Fixed Mortgage Rates > 30 year fixed refinance > home mortgage fha rates > lowest fha mortgage rates > today's lowest fha rates
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