As of yesterday the House voted in favor of increasing FHA loan limits back up to their previous limits prior to Oct 1, 2011. We should be hearing if congress is to OK the legislation in the coming days. If I had to make an educated guess I would say the legislation will pass considering the amount of inventory the large banks are holding in regards to foreclosures; they need all the help they can get.
Average Overnight Mortgage Rates Per BankRate.com
Product
Rate FHA
Rate Conventional
30 Yr Fixed
4.03%
4.4%
15 Yr Fixed
3.38%
3.75%
On average I am .02 - .25% lower than the overnight average.
Mortgage Lic
NMLS: 295626
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