Bank FHA Mortgage Rates October 15, 2010
FHA mortgage rates increased modestly at the close of Friday, October 15. Long term bond rates moved higher towards the end of the week including the rats on mortgage backed securities, which drove mortgage rates higher. Mortgage rates closed the week moderately higher for both conforming loans as well as FHA mortgage loans.
With FHA mortgage rates continuing to hover close to conforming loan rates but remaining easier to qualify for, FHA mortgage rates have been a top choice for consumers looking to purchase a new home and refinance to a lower mortgage interest rate.
The average 30 year FHA mortgage rate increased by 2.5 basis points, bringing the average mortgage rate up to 4.30 percent. The average points charged by the top five bank mortgage lenders rose to 0.875 points and the average APR ended the week at 4.661 percent.
Mortgage insurance and FHA fees often make closing costs on an FHA mortgage loans higher than the costs of conforming loans which makes the APR on the FHA loan greater than that of a similar term and rate conforming loan.
FHA home loans are available for first time buyers as well as other home buyers or existing homeowners looking to refinance their home loan.
The top five bank FHA mortgage lenders in the survey of FHA mortgage rates put forward the following 30 year mortgage rates, points and APRs for October 15, 2010:
Wells Mortgage FHA mortgage rate on a 30 year loan is 4.25% and 1.0 point and a 4.488% APR.
Bank of America FHA mortgage rate is 4.25% with 1.25 points and an APR of 4.406% on the 30 year term loan.
SunTrust mortgage FHA loan rate is 4.125% with 2.125 point and an APR at 4.858% for the 30 year 30 mortgage.
US Bank mortgage 30 FHA mortgage rate is 4.25% with no points and a 4.75% APR.
HSBC Mortgage FHA loan rate for a 30 year loan is at 4.625% with no points and a 4.804% APR.
The FHA mortgage rates, discount points and APRs listed from the bank mortgage lenders are for owner occupied single family properties in California with a loan amount of approximately $250,000.00. The bank FHA mortgage rates listed are current as of this publication date but are subject to change.
All mortgage loans require bank approval, additional conditions and some restrictions may apply which may also alter the mortgage rates, points and APR offered by the mortgage lender on specific loan requests.
Today’s FHA Mortgage Rates September 3, 2010
FHA mortgage rates ticked up modestly by the end of the week. Today’s average 30 year FHA mortgage rate moved up to 4.50% based on the most recent survey FHA mortgage rates performed by Findlocalmortgagerates.com. Earlier in the week the average 30 year FHA mortgage rate from the top bank mortgage lenders had fallen to 4.425%.
The average points charged by the top FHA mortgage lenders to deliver this rate was at 0.625 points. The average points charged has stayed in relatively tight range in the past 30 days with a high of .825 points and a low of .575 points. Today’s FHA mortgage rates survey showed the average points charged falling within a range of zero points on the low end and 1.375 points on the top end. The FHA mortgage interest rates ranged from 4.375% to 4.75%.
The top five bank mortgage lenders in this week’s survey, Wells Mortgage, US Bank Home Mortgage, Bank of America, SunTrust Mortgage and HSBC Mortgage offered the following 30 year FHA mortgage rates, points and APRs:
Wells mortgage 30 year FHA mortgage rate is 4.375% and 1.0 point with a 4.738% APR.
US Bank mortgage 30 year FHA mortgage rate is at 4.50% with zero points and a 5.01% APR.
Bank of America mortgage has a 30 year FHA with an interest rate of 4.75% with 0.75 points and an APR of 4.852%.
SunTrust mortgage rate is 4.375% with 1.375 points and an APR at 4.936% on the FHA 30 year home loan.
HSBC Mortgage offers the 30 year FHA loan with a mortgage rate of 4.50% with no points and an APR of 4.678%.
The FHA mortgage rates, discount points and APRs listed are for owner occupied single family properties in Illinois with a loan amount of approximately $200,000.00. The bank FHA mortgage rates listed are current as of this publication date but are subject to change.
All mortgage loans require bank approval, additional conditions and some restrictions may apply which may also alter the mortgage rates, points and APR offered by the mortgage lender.