A month ago FreeRateUpdate.com reported an FHA 30 year fixed rate of 4.5% at par, a record low. FHA mortgage rates today are up from all time lows but still excellent. Unlike conforming mortgage rates which are about the same no matter where you go, FHA mortgage rates vary greatly from bank to bank.
Here’s an example of varying FHA mortgage rates. FreeRateUpdate.com research of wholesale lender’s current mortgage rates verifies par rates as low as 5% on FHA 30 year fixed loans. That means an FHA 30 year fixed rate of 5% is obtainable through a broker with access to wholesale lending today. Wells Fargo though lists their 30 year fixed FHA loan rates today at 5.5% with an APR of over 6.2%. Ditech offers an FHA 30 year fixed rate of 5.375% (6.603% APR), with a 1.550 point discount (buy-down). Maybe a broker is the best way to go right now?
Here’s FHA mortgage rates as determined by FreeRateUpdate.com research of wholesale mortgage lender’s rate sheets. FHA 30 year fixed mortgage rates today are as low as 5% at par. FHA 15 year fixed mortgage rates today are as low as 4.5% at par. FHA 5/1 ARM mortgage rates today are as low as 4.25% at par.