Comparing the current average 30- year FHA loan rate of 4.63% to the average conventional mortgage rate of 4.62%, we saw spreads widen relative to last year’s mortgage rates, demonstrating that FHA rates have generally become more expensive versus conventional mortgage loans.

FHA loans do require private mortgage insurance- made as one upfront payment plus monthly payments – and will also usually.

(Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to the interest. driven mainly.