Today's FHA mortgage rates are just above record lows and mirror the interest rates of conforming mortgages.
Fullerton, CA (PRWEB) December 10, 2009
Current mortgage rates are up a tad since rising about an 1/8% yesterday. Prices of Residential Mortgage Backed Securities, which drive mortgage rates in the opposite direction, were down slightly yesterday. Last Monday we verified 4.5% 30 year fixed mortgage rates with multiple wholesale lenders. Today's mortgage rates are stable under 5% and about a 1/4% above the all time record lows set last Monday. The benchmark 10 year treasury yield, a leading indicator for current mortgage rates, was up .0310 (0.91% overall) and at 3.42 at close yesterday.
FreeRateUpdate.com research of wholesale lender's rate sheets shows today's mortgage rates are up a bit from earlier in the week. Today's conforming 30 year fixed rate is 4.75%, up from 4.625%. Last Monday the conforming 30 year fixed mortgage rate touched 4.5% and was very near 4.375% but then shot up almost 1/2% over several days. Today's 15 year fixed rate is 4.25%, where it's been most of the past 2 months. 15 year fixed mortgage rates have been as low as 4.125% in the past week. Today's 5/1 ARM rate is 3.75%, up from 3.5% a week ago.
Today's FHA mortgage rates are just above record lows and mirror the interest rates of conforming mortgages. Today's FHA 30 year fixed rate is 4.75%, up from last week's record low of 4.5%.
Today's jumbo mortgage rates are also up from earlier in the week. Today's 30 year fixed jumbo mortgage rate is 5.875%, up from 5.75%. 30 year fixed jumbo mortgage rates were as low as 5.625% last week.
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