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Interest Rate Question

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Interest Rate Question

Here is a snippet of a news release by fannie mae

Fixed-rate Mortgage Yields Conventional

                       Current Week Ago Year Ago

15-year FRM      5.500      5.610         5.690

30-year FRM      5.820      5.940         6.130

 

FHA/VA
(30-year FRM)     6.970       6.740        6.190

 

 

My question is why is the FHA/VA interest rate so high, compared to a year ago?  Last year the difference at this time of year between 30 year fixed and fha/va 30 year fixed was .06% but now its over 1%?

 

Thanks in advance for the answer Smiley Happy

Message 1 of 3
2 REPLIES 2
Valued Contributor

Re: Interest Rate Question

Really?

 

I just got FHA approval and the rate is 5.75 and I was told that I was 13 score points shy of the 'best FHA rate'.

Dunno. Maybe the rates are different in different areas?



EQ 817, EX 815, TU 813 (Updated 1/5/18: TU 843

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Message 2 of 3
Community Leader
Super Contributor

Re: Interest Rate Question

That information is inaccurate.
Helping people with mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
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Message 3 of 3
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