September 29, 2010 – 30 year fixed mortgage rates are flat and remain at 4% for well-qualified borrowers who pay about 1 point origination. 15-year fixed mortgage interest rates remain at 3.5%.
FHA loan rates, which tend to move with conforming mortgage rates, are also stagnant today. Current 30 year fixed FHA loan rates are at 4%, the same as today’s conforming 30 year rate, but with higher closing costs due to MI and other FHA fees.
30 year jumbo mortgage rates are cemented at a record low 4.875%, down from last week.
Mortgage-backed securities prices, which move current mortgage rates their opposite, are down -6/32 despite strong demand at today’s 7-yr auction. The decline in MBS prices however is not enough to move mortgage rates.
Wells Fargo mortgage rates are unchanged today, they continue to offer 4.375% on a conventional fixed mortgage at an APR of 4.559%.
According to the MBA weekly survey mortgage refinance applications are down despite lower mortgage rates.
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