March 2015 FHA mortgage interest rates are beginning a little higher versus the start of February. However, overall FHA interest rates are still lower year over year. FHA 30 year fixed interest rates are currently in mid 3.5%-4.0% range with zero discount points by most Florida mortgage companies lenders as we start March.
Spring is the time to buying and selling, expect to see greater inventory soon. Mortgage borrowing costs are still very low, many home buyers can own a home now for cheaper than renting. In addition, FHA recently reduced monthly mortgage insurance costs, this is not only good for new home buyers using the FHA program, but also great for existing homeowners that have a current FHA mortgage – says Britt Cribs , FHA loan specialist.
For homeowner that already have a FHA mortgage: you still have time to take advantage of the FHA streamline refinance. No home equity? No problem! The FHA streamline refinance program lifts many these obstacles seen in the past. This FHA streamline refinance is designed for the homeowners that were hit the hardest in the housing market decline years back. Additionally, the FHA streamlined refinance doesn’t require a new appraisal or home inspection. FHA home interest rates are expected to increase in the coming months as seem below, act not while rates are still low. Homeowners that received their FHA mortgage in the last 36 months will especially want to consider a refinance for the mortgage insurance (PMI) savings announced by FHA in Jan. Please read more here on FHA plan to reduce monthly mortgage insurance.
FHA Mortgage Source serves all of Florida & Georgia 7 days a week. Please reach out to us today by calling 800-743-7556 or just submit the quick Info Request Form on the right side of this page. Mobile users will find the short Info Request Form here
Be sure to read about all the 2015 FHA qualifying guidelines here.
FHA Loan Interest Rates March 2015