Current fha mortgage rates Meaning and Definition
Current fha mortgage rates
Pronunciation
Part of Speech
Noun Phrase
Definition
A type of interest rate offered by the Federal Housing Administration (FHA) for mortgages, typically used by first-time homebuyers and those with lower credit scores.
Examples
- Current FHA mortgage rates are hovering around 3.5%.
- After careful consideration, we decided to take advantage of the low current FHA mortgage rates.
Synonyms
- FHA interest rates
- Mortgage rates
Antonyms
- Variable rates
- Jumbo loans
Etymology
The term “FHA” originates from the Federal Housing Administration, an agency within the United States Department of Housing and Urban Development (HUD).
Usage Notes
Current FHA mortgage rates are subject to change and may vary depending on factors like credit score, loan term, and other financial variables.
Cultural References
Current FHA mortgage rates have been featured in various financial news outlets, such as Forbes, CNBC, and The New York Times.
Idiomatic Expressions or Phrases
“Getting a mortgage with current FHA rates” is an idiomatic expression meaning to secure a mortgage with a favorable interest rate.
Related Words or Phrases
- Mortgage
- Interest rate
- Homebuying
Collocations
- Current FHA mortgage rates and homebuyers are closely related.
- The sudden drop in current FHA mortgage rates sent shockwaves through the real estate market.
Frequency of Use
The phrase “current FHA mortgage rates” is commonly used in real estate publications and online resources.
Common Misspellings
- Current fha mortagage rates
- FHA mortgage rate