Articles Published in: August 2015

August 1, 2015

FHA Mortgage Loan Interest Rate Trends: 60-Day Lows

By Joe Wallace

Mortgage loan rates have been in a recovery mode of sorts over many days–tiny increments of rate improvements have brought closing costs down over time but the basic best execution rates we’ve been reporting on here haven’t changed–until Friday, when a weaker-than-expected jobs data report brought a more dramatic move lower for mortgage rates. The move was sharp enough to pull both conventional 30-year fixed rate mortgage loan interest rates and FHA loan interest rates out of their previously reported best execution range of rates and back into a single number on Friday. Conventional 30-year fixed rate mortgages are now reported at, best execution, 4.0% with some more aggressive lenders offering borrowers with the best FICO scores and credit histories rates in the high three percent range. FHA mortgage loan | more...