Take that information with caution. A recently raised premium known as MI at 2.25%, paid at closing, as well as fees charged by the FHA jack up costs on FHA loans making their A.P.R. much higher than those of conforming mortgages. That being said, The IRS tax credit of up to $8,000 for home buyers using FHA financing to purchase is applicable to closing costs.

Also though the FHA 30 year fixed rate is the same as the conforming 30 year fixed rate, other products are not. For instance, while the 15 year fixed rate for a conforming mortgage is 4.25%, the FHA 15 year fixed rate is 4.5%.

If you’re considering an FHA loan for the purchase of a home, you may want to consider a higher interest rate. Why? If you go with a higher interest rate you may be able to lower your closing costs and use the cash you keep in your pocket for something else.

To display FHA mortgage rates on your website or blog use our FHA mortgage rates widget.

NEW: Search Local Mortgage Rates

A par rate is what a savvy and qualified consumer will receive on any given day with a standard 1 point in origination. Par rates are typically 1/4 percent below national averages reported by Bankrate.com and Freddie Mac. Less savvy borrowers often receive rates 1/4 percent higher than what they are well qualified for because they are not aware of the day’s par rates. The banks make huge profits on this. Par rates, not national averages, are the rates consumers should shoot for. Knowing mortgage rates, including FHA mortgage rates, at par is a key for consumers looking to lock in the best possible deal on a mortgage refinance or home purchase loan.

FreeRateUpdate.com researches over 2 dozen wholesale lender’s rate sheets and reports on mortgage rates at par on a daily basis.

The current conforming and FHA 30 year fixed rate at par is 4.75%. The current jumbo 30 year fixed rate at par is 5.75%

NEW: Search Local FHA Mortgage Rates

FHA mortgage rates at par differ from national averages which are based on conforming mortgage rates and average mortgage rates. A par rate is what any qualified yet savvy consumer can expect to recieve on a mortgage any given day with about 1 point origination.

FHA Mortgage Rates Today at Par:

Today’s FHA 30 year fixed rate at par is 4.75%, unchanged. Today’s 15 year fixed FHA rate at par is 4.5%, 1/4% higher than the conforming rate. Today’s FHA 5/1 ARM rate is 3.75%.

To display FHA mortgage rates on your website or blog use our free FHA mortgage rates widget.

NEW: Search local mortgage rates

FreeRateUpdate.com researches over 2 dozen wholesale mortgage lender’s rate sheets and reports on par rates daily. A par rate is what a savvy and qualified consumer will receive on any given day with a standard 1 point in origination. Par rates differ from national averages. The prominent “national averages” consist of  rates that will still draw applications but give their clients (the banks) the chance to make the biggest possible profit on less savvy borrowers. If any loan officer walks into work, the first thing he’ll likely look for is  the day’s par rate. That’s the rate he’ll quote with a standard 1 point origination.

Mortgage Rates Today at Par for FHA, Conforming, and Jumbo Loans;

Our research of wholesale lender’s rate sheets show no change in mortgage rates today. Today’s 30 year fixed rate for both conforming and FHA loans at par is 4.75%. The conforming 15 year fixed rate at par is 1/4% lower than FHA, at 4.25% compared to 4.5%. Both conforming and FHA loans 5/1 ARM rates at par are 3.75%.

Today’s 30 year fixed jumbo rate is 5.75%, unchanged.

To display today’s  mortgage rates on your website or blog use our free today’s mortgage rates widget, also available as a wordpress plugin.

As the government winds down it’s buying of mortgage backed securities, set to end in March, analysts wonder what affect the stoppage will have on mortgage rates. Most economists, including economists from the likes of Wells Fargo, believe mortgage rates will rise and rise significantly. Another perspective is that buyers will enter mortgage bond market once the Fed exits. Another problem occuring now is up to $100 billion in these bonds the government has purchased are not being delivered.

Here’s a video from today from Bloomberg that covers all of this in a minute and a half. Click to play.

Profits are likely to fall once the Fed discontinues their buying of mortgage backed securities in March, lowering demand and MBS prices  pushing mortgage rates up and new origination down as well. Some analysts are saying mortgage rates may not suffer as anticipated after March and that has some betting the other way, on continued low mortgage rates. That list does not include Wells Fargo, who it was revealed bet nearly a billion dollars over the course of last year that mortgage rates will rise significantly.

The entire mortgage market is pretty much now Fannie Mae and Freddie Mac, yet Barnkey Frank wants to get rid of them both. One  problem with that is there really hasn’t been any replacement even formulated.

This video covers all this and more. Click to play.

NEW: Search local FHA mortgage rates by zip code, program, points and more.

The talk recently surrounding FHA hasn’t been about FHA loan rates, but guideline changes set to take place. One change isn’t really a change at all. FHA recently made a so called change that caught a lot of media attention, a minimum 10% down payment for borrowers with a FICO score less than 580. This change literally has no affect on the housing market as banks hadn’t been offering FHA loans to borrowers with sub 580 credit scores anyways.

FHA Mortgage Rates – 30 year fixed FHA – 15 year fixed FHA – 5/1 ARM FHA

FHA mortgage rates today are down from early last week, according to FreeRateUpdate.com research of wholesale mortgage lender’s interest rate sheets. Current 30 year fixed FHA mortgage rates at par are as low as 4.75% and vary from lender to lender. Current 15 year fixed FHA mortgage rates at par are as low as 4.5%. Current 5/1 ARM FHA interest rates at par are as low as 3.75%. Par rates are rates that typically come with a standard 1 point origination. Other fees including but not limited to PMI on FHA loans apply.

NEW: To display today’s FHA mortgage rate on your website or blog use our free FHA mortgage rates widget.

Looking for the lowest mortgage interest rates? Conduct a local mortgage rate search.

Current Mortgage Interest Rates – After the re-price.

Current mortgage interest rates for 30 year mortgages are down from 4.875% to 4.75%, where they started the week. FHA 30 year fixed mortgage rates are also at 4.75%. 15 year fixed mortgage rates remain 4.25% for conforming mortgage rates, as a result of the re-price closing fees associated with this rate are down. 5/1 ARM rates dipped from 3.875% to 3.75%. Today was one of the more volatile sessions we’ve seen for mortgage interest rates in the past few weeks.

To display mortgage interest rates on your website or blog use this free mortgage rate widget, updated daily.

Search local mortgage refinance rates here.

Mortgage refinance may be all but dead. The mortgage refi boom has been put on life support by the Fed who drove interest rates down to all time lows by purchasing mortgage backed securities. When mortgage rates go up where does that leave us? It’s a question worth asking as we approach the end of the Treasuries MBS purchase program.  As mortgage rates rise the last of the pool of people who can benefit and qualify for a refinance will drop to near zero. Refinancing will be dead.  Equity in homes is gaining, if at all at a snails pace. When homes aren’t gaining value, the equity just isn’t there to refinance out of a second mortgage, a mortgage with PMI, and adjustable rate you took to get into a home, whatever the case may be. There’s really not going to be that cash to take out to put in that swimming pool or redo the kitchen cabinets. Unfortunately, until homes start gaining in value the refinance business, especially when mortgage rates rise, will die off.

This video goes over some of these changes.