September 30, 2010 – 30 year fixed mortgage rates have cruised through the week thus far at an all time low, 4% for qualified consumers who pay a standard .07 to 1 point origination. Current 15-year fixed mortgage interest rates are at 3.5%, also unchanged this week.
The same goes for FHA mortgage rates, which tend to move with conforming loan rates. Today’s 30 year fixed FHA loan rate is 4%, the same as the current 30 year fixed conforming mortgage interest rate; however, MI and other FHA fees charged exclusively on FHA loans make closing costs higher than that of a conforming loan at the same note rate and origination.
Jumbo mortgage rates, down from last week, are steady as well. Today’s 30 year fixed jumbo loan rate is 4.875%.
Mortgage-backed securities prices, which drive mortgage rates in the opposite direction, are down -1/32 today in a volatile session, not enough to move home loan rates.
FreeRateUpdate.com researches over two dozen wholesale and direct lenders’ rate sheets to determine the most accurate rates available to well-qualified consumers who pay about 1 point origination.
Wells Fargo home mortgage, who originates more mortgages than any other lender in the US, is advertising a 30 year fixed conventional mortgage interest rate of 4.375%, with a 4.559% APR.
No comments:
Post a Comment