Where to watch FHA rates

[Anonymous]

Is there a website that reflects the current FHA rate? My LO told me to watch the 10yr bond number. I dont really know alot about the stock market/interest rates. I am schedule to close on our house 9/22 so we are daily watching the rate (bond) to LOCK IN. Tuesday the rate was 6.5 but other websites show different rates for other types of mortgages. In order to close with no problems and not buying the rate down, we need below 6.5

[ShanetheMortgageMan]

---

ilovetaos wrote:
Is there a website that reflects the current FHA rate? My LO told me to watch the 10yr bond number. I dont really know alot about the stock market/interest rates. I am schedule to close on our house 9/22 so we are daily watching the rate (bond) to LOCK IN. Tuesday the rate was 6.5 but other websites show different rates for other types of mortgages. In order to close with no problems and not buying the rate down, we need below 6.5

---

There isn't a website that shows the current FHA rates, FHA rates are set by the lender you are applying with.  The 10-year bond doesn't always give you the direction rates are headed in, you need to monitor MBS's (mortgage backed securities) for that.  You should check the blog at http://www.mortgagenewsdaily.com/mortgage_rates/blog/consumer.asp to get a general idea of which direction rates are headed in.  Currently they are headed down but it can change direction on any given day.  Most websites that monitor MBS prices costs quite a bit of money, however there is a free one at http://www.investinginbonds.com/marketataglance.asp?catid=35.  IMO you should keep in close contact with your loan officer about interest rates, email him daily if needed.