Today’s Lowest FHA Mortgage Rates – March 15 Interest Rates Up
Posted on | March 15, 2010 | No Comments
Today we are seeing mortgage interest rates up slightly as the average for the conventional 30 year fixed mortgage rate is at 4.83%. When looking for today’s lowest FHA mortgage rates you must consider that there are insurance obligations when it comes to getting an FHA mortgage.
Many mortgage lenders are stating that FHA loan rates and conventional loan rates are coming in very close. There is an opportunity for you to get an FHA mortgage rate around 4.75% but you must understand that you will pay a little bit more per month due to insurance obligations.
Sometimes it is worth it to get a higher mortgage rate on a conventional mortgage because you will not have to pay on these insurance restrictions. All mortgage lenders will explain this to you but it would be wise to sit down with a pencil and paper and do the calculations yourself.
At the present time the lowest FHA mortgage rates are around 4.75%. It is extremely important to note that you must have a very good credit score and a debt to equity ratio below 45% to have any opportunity at these rates.
Author: Mike Garner
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