September 23, 2010 – Conventional 30-year fixed mortgage rates may break 4% this week or early next week. If they do, we’ll have a new all time low 30-year fixed-rate, and a 30-year fixed mortgage rate under 4% for the first time ever.
For now, 30-year fixed mortgage rates are at 4% for well-qualified consumers who pay a standard .07 to 1 point origination fee. 15-year fixed mortgage interest rates today are at 3.5%. Both conforming fixed mortgage rates today match all time record lows.
Today’s 30-year fixed FHA loan rate is 4%, the same as today’s conforming 30-year fixed interest rate. FHA loans typically are associated with MI and pother FHA fees that drive costs up above those of a conforming mortgage, even at the same note rate and origination fee.
Today’s jumbo 30-year fixed loan rate remains at 5.125%.
RateUpdate.blogspot.com researches over two dozen wholesale lenders’ rate sheets daily to determine the most accurate mortgage rates available to well-qualified consumers who pay a standard origination fee, considered to be between .07 to 1 point.
Wells Fargo, who originates mortgage residential mortgages in the US than any other mortgage lender, continues to offer a 30-year fixed conventional mortgage at 4.375% with an APR of 4.559% on their website.
Mortgage-backed securities prices, which drive mortgage rates in the opposite direction, are down -1/32 today, not enough to move fixed mortgage rates in the immediate future. MBS prices were hurt today by the stock market’s recovery of early losses.
No comments:
Post a Comment