August 24, 2010 – Conventional fixed mortgage rates stabilized further today as mortgage-backed securities prices, which drive mortgage interest rates in the opposite direction, continue to improve, up +11/32 (FNMA 30-yr 4.0 at 102.30) on much weaker than expected housing data.
Current FHA mortgage rates are still about the same as conforming mortgage rates. An FHA mortgage with a note interest rate of 4% at 1 point origination, will have a much higher APR and closing fees than a conforming mortgage at the same interest rate and origination because of MI and other FHA fees charged exclusively on FHA loans.
Jumbo mortgage rates have been sinking steadily for months and today’s 30-year fixed jumbo loan rate is 5%.
Wells Fargo mortgage rates are unchanged with Wells Fargo’s 30-year fixed mortgage interest rate remaining at 4.5% with an APR of 4.686 according to their website.
Wells Fargo mortgage rates are unchanged with Wells Fargo’s 30-year fixed mortgage interest rate remaining at 4.5% with an APR of 4.686 according to their website.
FreeRateUpdate.com researches over 2 dozen wholesale lenders’ rate sheets daily to determine the most accurate mortgage rates available to consumers at a standard .07 to 1 point origination.
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