Does anyone know where I could look at current FHA market rates? I locked in at 5.75% two weeks ago and the float down period started today. I have doubts that Wachovia/Wells Fargo will personally monitor and call me once the rate goes down, if at all. It seems like it went down to 5.50% today. Is there somewhere that shows what the current rate is like in the 10 year treasury bond, ect.
Not sure where you could see the rate for sure, but I went through WF and have the float down option as well. However, I was told the rate has to decrease by atleast .385 percent in order to be eligible to float down. You may want to see if it will be the same for you. I went conventional, not sure if FHA is different.
