FHA HOME LOAN RATES OCTOBER 16 – MORTGAGE RATES FALL

" FHA home loan rates for October 16th, 2009 are falling as the week concludes. The conventional 30 year fixed mortgage rate is at 4.86% and the 15 year fixed mortgage rates is at 4.34%. The 5/1 ARM is actually going the other direction and is up to 3.91%. FHA home loan rates are generally .5% to .75% higher than conventional mortgage rates so you can do the math and see the 30 year fixed FHA is around 5.61%. This is still very low when looking at mortgage rates from a historical perspective."