The average FHA mortgage for purchase and refinances in September fell slightly to $175,392. This mortgage amount was just below the record average FHA mortgage amount set in August ($176,004) and the previous record of $175,636 set in July of this year. In September 2007, the average FHA mortgage amount was $145,512. The year over year increase in the average FHA mortgage amount was $29,880 or 20.5%.
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In this recession time the rate of mortgage is decreasing so drastically that even mortgage experts are also not ready to predict the future mortgage trends clearly. The mortgage rate trends is not showing any improvement since long. The real estate industry is also suffering a lot from this situation but no one is there to save them.
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