The rate is a full percentage point below the average rate of 8.5%. Colorado National Mortgage, Alpine State Mortgage Co. and National Mortgage Co. quoted the 7.5% rates for 30-year, fixed-rate FHA loans. Other forms of mortgages are not being offered at a discount. Front-end charges for the discounted loans were high, however. Alpine State, for example, was charging 5.5 points, equating to a yield of 8.27% over the average life of the loan.