Today’s Lowest FHA Mortgage Rates – April Interest Rates Set to Move Up?
Posted on | March 30, 2010 | No Comments
Today’s lowest FHA mortgage rates are around 5% for the 30 year fixed mortgage rate and 4.3% for the 15 year fixed mortgage rate. While these rates are extremely low when looking at historical charts there is a very good chance that we could see April interest rates move higher.
For quite some time many analysts have predicted that mortgage rates were set to move higher in the spring of 2010. It looks like these predictions are becoming a reality as we saw mortgage rates move from 4.75% to 5% in a matter of 48 hours late last week.
If you are looking to lock in to a low FHA mortgage interest rate then it is important to understand that there are insurance requirements for an FHA mortgage. It is sometimes cheaper to get a conventional mortgage rate that is slightly higher because you can avoid the insurance.
Overall it is still a very good time to lock in to a low mortgage interest rate. By doing your research you could find that there are many lenders in your area that will offer you a 30 year fixed mortgage rate around 5%.
Author: Jeremy North
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