Today’s Lowest FHA Interest Rates – Refinance Mortgage Rates Dip as 10 Year Yield Drops in February
Posted on | February 28, 2011 | No Comments
When looking for today’s lowest FHA mortgage rates most people will find that 30 year fixed conventional refinance rates have dropped below 4.75%. Recently we have seen the 10 year treasury rate you’ll drop below its 50 day moving average which in turn has helped mortgage rates hit of February 2011 low.
Heading into March of 2011 it will be very interesting to see where mortgage rates go as the 10 year treasury rate yield will be a strong predictor. If the 10 year yield finds support at its 50 day moving average and moves higher than there is a very strong possibility we could see mortgage rates move through 5% and slowly start making their way toward 6%.
Analysts have been predicting this for quite some time but it has yet to happen as the 30 year fixed mortgage has been at or below 5% for well over two years. If the economy continues to improve and the unemployment rate drops well below 9% it is hard to argue that interest rates will likely rise due to the fact that the federal reserve bank will no longer have a reason to keep rates near an all-time low.
With this in mind it may be a very wise decision to do research on current home loan interest rates. It is important to remember that an FHA mortgage comes with insurance obligations so it is always advisable to crunch the numbers and see if it may be wise to take out a conventional mortgage with a slightly higher rate.
There many mortgage calculators available online to help homeowners better understand which mortgage type will be best for specific financial situation. By taking advantage of these free resources online homeowners could end up saving hundreds of dollars a month when going to the refinance process in March of 2011.
Author: Tiffany Mann
Tags: fha mortgage interest rates > home loan interest rates > home loan mortgage rates > home refinance mortgage rates > lowest fha rates today > todays lowest fha mortgage rates
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