| North Palm Beach, Fla. -- Nov. 25, 2009 (Bankrate.com) -- Average rates on 30-year FHA mortgage refinances in the United States fell 2 basis points to 5.10 percent on Wednesday, according to Bankrate.com's daily Your Best Interest report. The mortgages in the survey had an average of 0.13 discount and origination points.
A 30-year FHA mortgage is insured by the Federal Housing Administration and has an interest rate that stays the same for the 30-year life of the loan. Someone taking out a $150,000.00 30-year FHA mortgage refinance at the current average would pay $814.42 a month for the life of the loan. The rates ranged nationally from a high of 6.50 percent to a low of 4.00 percent. A month ago, the average rate in the U.S. for this product was 5.31 percent. To see all of the results of Bankrate.com's surveys, go to www.bankrate.com. The Your Best Interest report is a daily service of Bankrate.com, a financial news and information service based in North Palm Beach, Fla. Bankrate surveys more than 300 financial products from more than 4,800 institutions in all 50 states. |