Mortgage Rates 8/16: Current Mortgage Rates Set New Low

By: Ed Ferrara | August 16, 2010 at 2:15 pm

August 16, 2010 – Current mortgage rates are at yet another new record low.

Current 30-year fixed mortgage interest rates are at 4% for qualified consumers paying a point origination. Today’s 15-year fixed mortgage rate is 3.5. Both conforming fixed mortgage rates have been verified by FreeRateUpdate.com research of wholesale lenders’ rate sheets.

Today’s FHA mortgage rates continue to match conforming interest rates.

Current jumbo mortgage rates are at a new record low as well. Today’s jumbo 30-year fixed loan rate is 5%.

Wells Fargo is advertising a conforming 30-year fixed rate of 4.5.

Mortgage-backed securities prices, which drive current mortgage rates in the opposite direction, continue to perform well and are up +5/32 (FNMA 30-yr 4.0 at 102.26) today. As a result, mortgage rates are stable.