
According to FreeRateUpdate.com, the 30-year fixed mortgages are available at 4.75%. FHA is mirroring conventional loans and even though FHA loans offer similar rates, the closing costs associated with these rates are significantly higher. The costs will increase the MI that will be boosted from 1.75 to 2.25% of the amount borrowed on April 5.
The 30-year fixed loans are available at 5.625% with slightly better rates (5.5) for borrowers with extremely low LTV. For the month of March, the mortgage-backed securities prices that drive the mortgage rates in the opposite direction are flat. This in turn made the mortgage rates…











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