Today’s Lowest FHA Mortgage Rates – Refinance 30 Year Interest Rates Sink Below 5% on December 22, 2010
Posted on | December 22, 2010 | No Comments
Today’s lowest FHA mortgage rates aren’t much more attractive levels in just one week ago. At the present time we are seeing refinance 30 year fixed conventional interest rates around 4.65% which is well below the levels that were above 5% just last week. Average 30 year fixed mortgage rates have been on quite a roller coaster ride for the last several weeks as the 10 year treasury rate yield has been very volatile.
At the beginning of November we saw 30 year fixed mortgage rates as low as 4.0% for well qualified homeowners. This drastically changed is the 10 year treasury rate yields down the bottom and moved up quickly. By the middle of December we saw 30 year fixed rates as high as 5.25%.
Since the middle of December both a 30 year fixed mortgage rate and 10 year treasury rate yields a pullback which in turn has made the lowest FHA mortgage rates more attractive. It is important to remember that FHA mortgages come with insurance obligations and it is important to add these into the calculations when determining how much can be saved.
As we get closer to the Christmas holiday is generally the case that Americans do not think about home loan refinancing or any type of personal finance situations. As the new year rolls around it will likely be the case that there are many more people that have personal-finance New Year’s resolutions who are looking to save as much money as possible in 2011.
With this being the case we fully expect to see a large number of people looking to refinance and submit mortgage applications during January and February of the new year. Before doing so it may be a wise decision to complete a significant amount of research and understand what options are available when it comes to reducing a home loan interest rate which in turn will reduce the mortgage payment.
Author: Heather Best
Tags: 30 year home loan rates > 30 year interest rates > fha mortgage interest rates > refinance 30 year loan rates > today's lowest mortgage rates > todays lowest fha mortgage rates
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