Bloomberg - The interest rate on a two-year fixed mortgage was 9.5 percent in January, up from 8.23 percent a ... About 40 percent of respondents said the economy will worsen over the next year, the most pessimists since August 2006. As stated earlier, FHA mortgage is a way for homebuyers to obtain financing for their homes. All home purchases require buyers to make a certain set percentage of the total purchase , called the down payment. What the FHA mortgage insurance does therefore is to allow a homebuyer to make a modest down payment and obtain a mortgage for the balance of the purchase price.
