August 17, 2010 – Today’s mortgage rates could elevate. 30-year fixed mortgage rates could rise from a current record low-level of 4%, but only if mortgage-backed securities prices, which drive mortgage rates in the opposite direction, continue to fall. MBS prices are down -10/32 (FNMA 30-yr 4.0 at 102.16) today on rising stocks.
For now current 30 year fixed mortgage interest rates are at 4% for highly qualified borrowers paying a standard origination fee of .07 to 1 point. Current 15-year fixed mortgage rates are at 3.5, also an all time low.
FHA mortgage rates, which are driven by the same securities as conventional mortgage interest rates, continue to mirror conventional mortgage rates for the most part. Today’s 30-year fixed FHA loan rate is 4%. Costs ares higher on FHA insured mortgages than on conventional loans even at the same note rate and origination.
Jumbo mortgage rates, also at record lows, are steady. Today’s 30-year fixed jumbo loan rate is 5%.
Jumbo mortgage rates, also at record lows, are steady. Today’s 30-year fixed jumbo loan rate is 5%.
Wells Fargo mortgage rates are unchanged according to their website. Wells Fargo’s 30-year fixed rate is advertised at 4.5% with an APR of 4.686.
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