September 15, 2010 – Following significant improvements Monday and Tuesday in mortgage-backed securities prices, which drive mortgage interest rates in the opposite direction, 30-year fixed mortgage rates dipped back down to 4%, matching an all time record low. Conventional 15-year fixed mortgage rates today are at 3.5%. Fixed mortgage rates have been hovering around this level for weeks giving consumers more than a fair chance of securing a record low fixed interest rate.
Jumbo 30-year fixed mortgage rates remain at 5.125%, and FHA 30 year fixed loan rates today are at 4%, the same as conforming 30-year fixed mortgage rates.
FreeRateUpdate.com researches wholesale lenders’ rate sheets on a daily basis to find the mortgage rates available to well-qualified consumers at an average origination fee of .07 to 1 point.
Wells Fargo mortgage rates are improved slightly today. Today’s Wells Fargo conventional 30-year fixed mortgage rate is 4.375% with an APR of 4.559%.
MBS prices were down slightly today. As a result, there is a risk rates could rise tomorrow morning.
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