Today’s Lowest FHA Mortgage Rates – February 24 Interest Rates Mixed
Posted on | February 24, 2010 | No Comments
Today’s lowest FHA mortgage rates are mixed as the 30 year fixed mortgage rate is slightly up yet the 15 year fixed mortgage rate is unchanged. On February 24th, 2010 the conventional 30 year fixed mortgage rate is around 4.86% while the conventional 15 year fixed mortgage rate is stable at 4.26%.
Many mortgage lenders have expressed that FHA loan rates are coming in very close to conventional mortgage rates. With this being the case you can expect to get an FHA home mortgage loan around 5% if you have a good credit score. Having a very good credit score is essential to getting a low mortgage interest rate.
For the entire month of February we have seen mortgage rates between 4.7% and 5% for the 30 year fixed. With this being the case many homeowners have had the ability to lock into a low mortgage rate. This has saved many of these same homeowners hundreds of dollars a month on their mortgage payment.
If you are looking for today’s lowest FHA mortgage rates you are going to have to go through the preapproval process with a mortgage lender. Most mortgage lenders will allow you to go through this process on the Internet or over the phone and it usually only takes about 30 minutes. It would be wise to contact several lenders see you know that you are getting a competitive rate.
Author: Alan Lake
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