Feb. 5 (FreeRateUpdate.com) – Economically, if that’s a word, it was a wild week. FHA mortgage rates didn’t move at all. Despite mortgage-backed securities moving up and down in a volatile fashion, FHA mortgage rates had for the most part a boring week with just a few pricing changes affecting closing costs taking place. Pricing though has gotten so good this afternoon a falling stock market that 30 year fixed FHA mortgage rates are nearing 4.625%, a 
level we havent seen since the record lows of late October and early November of last year. This afternoon the push came when the stock market moved lower, helping MBS prices and mortgage rates. How far did the market slide? The Dow was down over 250 points at one point this afternoon before an amazing turn around that has got it down just over 37 points on the day as of 12:31 PM PST. The benchmark 10 year treasury yield, used by many to forecast conforming and FHA mortgage rates, is at 3.56, -0.04 on the day.
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FHA Mortgage Rates Today at Par:
Today’s 30 year fixed FHA mortgage rate at par is 4.75%, and nearing 4.625% after this afternoons increase in MBS prices. Today’s 15 year fixed FHA rate at par is 4.5%, just a quarter off conforming mortgage rates. Today’s 5/1 ARM FHA rate at par mirrors the conforming rate and is 3.75%.