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.
Top Bank FHA Mortgage Rates September 30, 2010
FHA mortgage rates plummeted to start the week but have ticked up modestly as the week comes to a close. Even with a mild rise in rates, FHA mortgage rates remain extremely low. Unfortunately, even as the ultra low FHA mortgage rates have made monthly housing payments look as affordable as ever, new home buyers and existing homeowners are not running to the their bank mortgage lender to take out new home loans.
Despite these low rates, many mortgage shoppers are still intimidated by the process of comparing and applying for a new home loan. The Findlocalmortgagerates.com FHA mortgage rate survey is designed to make that process much easier. By providing the mortgage rates from the top five bank FHA mortgage lenders, consumers can quickly shop and compare rates.
Whether you are a new home buyer or existing borrower seeking a refinance, reviewing the top five bank lending rates will help to facilitate the process of comparing and choosing among the available mortgage rates. Choose one of these mortgage lenders or use the information to compare rates with local mortgage lenders and banks.
FHA mortgage rates today have moved up slightly to an average interest rate of 4.425 percent. The average points charge by the top FHA mortgage lenders to obtain this rate was unchanged at 0.575 points.
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 September 30, 2010:
SunTrust mortgage FHA loan rate on a 30 year term is at 4.25% with 1.0 point and an APR at 4.862%.
Wells mortgage rate on a 30 year FHA mortgage loan has a rate of 4.25% and 1.0 point with a 4.593% APR.
Bank of America mortgage rate is 4.50% with 0.875 points and an APR of 4.641% on the 30 year FHA home loan.
US Bank mortgage rate for the 30 FHA mortgage is 4.50% with no points with a 5.01% APR.
HSBC Mortgage FHA loan rate for a 30 year loan is at 4.625% with no points and a 4.804% APR.
30 year FHA mortgage rates continue to remain at almost the same levels as conforming 30 year mortgage rates today.
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.
FHA Mortgage Rates from the Top 5 FHA Bank Mortgage Lenders July 1, 2010
Long term FHA mortgage rates moved lower for the week based on the most recent survey of the top FHA bank mortgage lenders completed by Findlocalmortgagerates.com on July 1, 2010. The rate on the 30 year fixed rate FHA home loan dropped down to 4.675% this week. The average points charged to obtain that rate was also lower at 0.65 points.
The average 30 year FHA mortgage rate from the top 5 FHA bank mortgage lenders came in at 4.675% with 0.65 points and an APR of 5.106%.
FHA mortgage rates continued to drop along with conventional loan rates and the Treasury rates. Mortgage rates closely track the rates of the widely followed ten year Treasury bond and the ten year closed at its lowest level of the year, portending lower rates in the immediate future.
The top five bank mortgage lenders in the FHA mortgage rate survey include; Bank of America Home Loans, Wells Fargo Home Loans, US Bank, SunTrust Mortgage and HSBC Mortgage.
The results of the survey including the individual bank mortgage rates, points and APR’s are listed below.
Bank of America’s 30 year FHA mortgage rate is 4.625% with 1.0 point with an APR of 4.780%.
Wells Fargo Home Loans offers the 30 year FHA mortgage loan with a mortgage rate of 4.625% and 1.0 point with a 5.364% APR.
US Bank markets the 30 year FHA mortgage rate at 4.750% with no points and a 5.271% APR.
SunTrust Bank’s 30 year FHA mortgage has a mortgage rate of 4.625% with 1.25 points and a 5.186% APR.
HSBC Mortgage has an FHA home loan with a mortgage rate of 4.750% with no points and an APR of 4.931%.
Long term FHA mortgages are designed to provide low down payment financing and are one of the few options available for home buyers trying to finance a new home with as little cash as possible. The fixed rate mortgage provides a borrower with the security of a monthly payment that won’t change over the life of the life of the loan.
Mortgage rates listed are for owner occupied single family primary residences for loan amounts of $200,000.00. Mortgage loan programs, mortgage rates, terms and conditions are subject to change without notice. All loans require bank approval, additional conditions and some restrictions may apply.
The bank FHA mortgage lenders listed offer a variety of mortgage loan options and mortgage loan programs. For more information on the mortgage lenders listed and current FHA mortgage rates, the contact numbers are:
Bank of America 800-586-9861
Wells Fargo Home Loans 877-937-9357
US Bank 888-831-7524
SunTrust Mortgage 800-634-7928
HSBC Mortgage 800-975-4722
FHA Mortgage Rates Survey April 28, 2010
FHA home loan rates were moderately higher this week, based on the weekly survey of FHA mortgage rates performed by Findlocalmortgagerates.com. The results of the survey were somewhat mixed as the mortgage rate rose moderately while the average points charged by the FHA mortgage lenders in the survey was slightly lower.
The average FHA mortgage rate on a 30 year fixed rate home loan in the survey was 5.075%, up from last week’s average rate of 5.050%. The average points charged to obtain that rate was 0.625 which is down from last week’s average points charged of 0.725.
The largest FHA mortgage lenders in the survey included: Bank of America Home Loans, Wells Fargo Home Loans, US Bank, SunTrust Mortgage and HSBC Mortgage. The interest rate spread between the highest mortgage rate and the lowest remains extremely narrow. The lowest rate was 4.87% while the highest mortgage interest rate came in at 5.25%. Points charged ranged from no origination or discount points to as high as 1.125 points.
The current FHA mortgage rates, points and APRs on a 30 year fixed rate home loan from the top five mortgage lenders included the following:
Bank of America Home Loans offers a 30 year fixed rate FHA loan at 4.875% with 1.125 points and a 5.041% APR.
Wells Fargo Home Loan has a rate of 5.125% with 1.0 point on their 30 year FHA loan with a 5.897% APR.
The US Bank FHA mortgage rate for a 30 year term is at 5.250% and no points with a 5.792% APR.
SunTrust Bank offers a 30 year FHA mortgage rate at 5.000% with 1.0 point with a 5.463% APR.
HSBC Mortgage’s 30 year fixed rate FHA loan is at 5.125% with no points and a 5.310% APR.
The mortgage rates and points listed are current as of this publication date but are not guaranteed and are subject to change. The FHA mortgage rates are based on mortgage loan amounts of approximately $200,000.00 for owner occupied, single family homes based in Illinois. All mortgage loans are subject to bank or mortgage lender approval.
For more information the mortgage lenders listed and current FHA mortgage rates, these mortgage lenders can be reached at the following numbers:
Bank of America 800-551-7975
Wells Fargo Home Loans 877-937-9357
US Bank 888-831-7524
SunTrust Mortgage 800-634-7928
HSBC Mortgage 800-975-4722
FHA Mortgage Rates April 1, 2010
Mortgage rates for FHA loans rose modestly as of March 31, 2010. The average FHA mortgage rate stood at 5.15% and 0.70 points based on sample of the largest US mortgage lenders taken from the weekly survey of FHA mortgage rates performed by Findlocalmortgagerates.com.
The sample of mortgage lenders for this week’s FHA mortgage rate survey includes Bank of America, Wells Fargo, US Bank, SunTrust Mortgage and HSBC Mortgage. The mortgage rates are current as of April 1, 2010 for FHA loans originated by the mortgage lenders.
The current FHA mortgage rates offered by these financial institutions are as follows:
Bank of America 30 year fixed rate FHA loan rate is 5.125% with 1.125 points and a 5.317% APR.
Wells Fargo Home Loans FHA loan rate for a 30 year fixed rate loan is 5.250% with 1.00% and an APR of 5.665%.
US Bank has offers an FHA mortgage with a 5.250% and no points and a 5.792% APR.
SunTrust Bank’s FHA home loan is at 4.875% with 1.375 points and an APR of 5.460%.
HSBC Mortgage promotes a 30 year fixed rate FHA loan at 5.250 with no points and a 5.436% APR.
The APR listed can be utilized by home buyers to compare different mortgages based on the annual cost for each loan. The monthly mortgage payment for a home loan is based on the note rate, the note rate does not take into consideration the cost of obtaining the loan including the points paid and other closing costs that are factored into the APR.
The Annual Percentage Rate (APR) stated is a measurement used to evaluate the actual loan cost over the life of the loan and is generally higher than the stated note rate since it takes into account the following costs along with the mortgage note rate: points, mortgage insurance and closing costs. The APR is a required disclosure required by the Federal Truth-In-Lending Act.
Additional mortgage rates and point options are available from these mortgage lenders. Mortgage rates are believed to be accurate but can change at any time. The accuracy of the home mortgage details is not guaranteed.
All home loans are subject to bank or mortgage lender approval. Some mortgage loan products may have geographic restrictions and other restrictions may apply.
For current FHA mortgage rates and loan terms contact the lenders directly. The following list covers the contact information for the listed bank mortgage lenders.
Bank of America 800-551-7975
Wells Fargo Home Loans 877-937-9357
US Bank 888-831-7524
SunTrust Mortgage 800-634-7928
HSBC Mortgage 800-975-4722
Today’s FHA Mortgage Rates March 23, 2010
Since FHA loans have skyrocketed in popularity over the past 24 months reviewing the mortgage rates and costs to obtain these loans has become increasingly important for more and more existing homeowners and potential homeowners.
Findlocalmortgagerates.com performs a weekly survey of the top bank mortgage lenders to monitor and review FHA loan rates and loan programs.
The following mortgage rates are for FHA loans or government loans which are backed by the Federal Housing Administration (FHA). Current FHA mortgage rates form the largest US banks include:
Bank of America Home Loans offers a 30 year fixed rate FHA loan that has a mortgage rate of 5.00% and 0.625 points with an APR of 5.125%.
Wells Fargo Home Mortgage offers a 30 year fixed rate FHA home loan with a mortgage rate of 5.000% with 1.0 points and an APR of 5.717%.
HSBC Mortgage rate on a 30 year FHA is at 5.000% with no points and a 5.183% APR.
SunTrust Mortgage has a 30 year FHA home loans with a mortgage rate of 4.750% and 1.250 points resulting in a 5.318% APR.
US Bank 30 year fixed rate FHA loan has a rate of 5.000% with no points and a 5.531% APR.
FHA home loans offer underwriting and loan approval features that make these mortgage loans easier for first time home buyers to qualify for. FHA loans are available for first time home buyers or homebuyers who are selling a home to buy another or to refinance an existing owner occupied property. The features that make an FHA to qualify for include: low down payment requirements and flexible credit guidelines.
Mortgage Rates listed are effective as of this publication date. Loan programs, rates, terms and conditions are subject to change without notice. The accuracy of the home mortgage details for these mortgage lenders is not guaranteed.
FHA mortgage rates listed are for owner occupied single family primary residences. Home loan rates, origination and discount points and closing costs may vary based on loan features, property type and location as well as other terms and conditions. Restrictions may apply. All loans are subject to bank approval.
Contact information for the bank mortgage lenders listed:
Bank of America Home Loans 1-800-551-7975
Wells Fargo Home Mortgage 1-877-937-9357
US Bank 1-888-831-7524.
SunTrust Mortgage 1-800-634-7928
HSBC Mortgage 1-800-333-7023