Thursday, March 19, 2009

Rates are down again -- yes, even FHA rates

Conforming rates are down again. Even FHA loans can be had for under 5%! That's about three-quarters of a point lower than they were last month. Thanks to that, I expect that more buyers will be looking in the next few weeks and we can expect more multiple offer situations.

1 comment:

  1. Ever since the conventional mortgage market ran into financial trouble, FHA mortgage loans have been increasing as a more viable source of home financing because of the easier mortgage qualifying guidelines and relatively lower costs. The market share for FHA loans has jumped from a 3% share to about 30% of home purchase financing plus about 20% of home refinance loans.