September 8, 2015
Last week mortgage loan rates attempted some downward momentum, but it wasn’t anything close to being a decisive move lower. There is a great deal of anticipation at the moment–all eyes are on the Fed who are due for another meeting where the fate of U.S. interest rates could be decided–will there be a rate hike announced in September? Will the Fed hold off on raising interest rates until December?
Those questions seem to be holding mortgage rates in a sideways-to-slightly-higher situation in the short term. After the three-day weekend, mortgage loan rates edged slightly higher, putting 30-year fixed rate conventional mortgages more squarely in 4.0% best execution territory, up from the previous range between 3.875% and 4.0%.
So far, FHA mortgage loan rates are holding steady, best execution, at the place they’ve been for quite some time. While you may encounter more variation between participating lenders with FHA rates, those with outstanding FICO scores and other financial qualifications may find 3.75% on offer (again, depending on circumstances and the lender).
On Wednesday there is a 10-year Treasury Auction that could influence mortgage loan rates, so that is an important factor to pay attention to in the very short term if you are undecided about locking an FHA mortgage loan interest rate.
Do you work in residential real estate? You should know about the free tool offered by FHA.com. It’s designed especially for real estate websites–a widget that displays FHA loan limits for the counties serviced by those websites.
It’s simple to spend a few seconds customizing the state, counties, and widget size for the tool; you can copy the code and paste it into your website with ease. Get yours today: http://www.fha.com/fha_loan_limits_widget
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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