September 28, 2010 ) – 30 year fixed mortgage rates today held at 4% for well-qualified borrowers who pay about 1 point origination. 15 year fixed mortgage rates today are at 3.5%. Both fixed mortgage rates are unchanged this week.
Mortgage-backed securities prices, which move mortgage rates in the opposite direction, posted slight gains today +2/32 (FNMA 30-yr 4.0 at 103.01), as well as yesterday, making it possible for a sudden improvement to occur. If fixed mortgage rates do decline further, the conventional 30 year fixed mortgage interest rate will go below 4% for the first time ever without a buy down (discount points) required, standard origination fees do apply.
FHA mortgage rates, which continue to mirror conforming mortgage rates, are also unchanged today. Today’s 30-year fixed FHA loan rate is 4%, the same as today’s conforming 30 year rate; however, MI and other FHA fees make closing costs higher than that of a conforming mortgage, even at the same note rate and origination fee.
Jumbo mortgage rates are down from last week and today’s 30-year fixed jumbo loan rate is 4.875%.
FreeRateUpdate.com surveys over two dozen wholesale and direct lenders’ rate sheets to determine the lowest mortgage rates available to well-qualified consumers who pay a standard .07 to 1 point origination.
Wells Fargo, the nation’s #1 originator by volume, continues to offer a conventional 30 year fixed mortgage rate of 4.375% with an APR of 4.559 on their website.
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