Today’s Lowest FHA Mortgage Rates – Interest Rates Drop in Early March

Today’s lowest FHA mortgage rates remain below the 5% mark as interest rates continue to drop in early March. At the present time we are seeing the conventional 30 year fixed mortgage rate around 4.75%. Most mortgage lenders are stating that quotes are coming in very similar for FHA mortgage rates.


If you’re looking to get preapproved for a mortgage rate today you are likely to find that FHA rates and conventional mortgage rates are very close but you will need to do research on the insurance requirements of FHA mortgage rates. It might be worth it to take a higher conventional mortgage rate because you will have no insurance obligations.

All mortgage lenders will explain how much money your monthly payment will be with a FHA mortgage or a conventional mortgage. It would be wise to sit out pencil and paper and grind numbers until you can find the lowest possible monthly mortgage payment.

Even though you may lock in at today’s lowest FHA mortgage rates it might be wise to put down a large down payment and attempt to get a conventional mortgage rate. You will avoid PMI and other insurance obligations which could end up saving you more in the long run. It is all a numbers game so make sure to crunch the numbers in your favor.

Author: Alan Lake