30 Year Fixed Mortgage Rate Remains at 4.875 Percent
By: John Kaloper
Mortgage rates have been steady since early this month as 30 year fixed mortgage rates remain at 4.875 percent. Freddie Mac said in their weekly mortgage rates report released Thursday 30 year fixed mortgage rates averaged 5.054 percent, down from 5.07 percent the week before and 5.08 percent the week before that. Zillow had average national 30 year fixed mortgage rates between 4.96 and 4.99 for most of the week.
30 Year Fixed Mortgage Rates According to FreeRateUpdate.com Research.
Our research of wholesale mortgage lender’s rate sheets shows 30 year fixed mortgage rates of 4.875 percent, at par. Par rates are what borrowers with excellent credit and at least 20 percent equity in the home qualify for at regular points and fees. We’ve reported 30 year fixed mortgage rates at 4.875 percent for almost every day this month. The benchmark 10 year treasury yield, the best indicator for 30 year fixed mortgage rates has sea sawed this month bouncing around from 3.78 to 3.295. It’s likely if the yield dips under 3.3 30 year fixed mortgage rates will drop to 4.75 percent.
The spread between 30 year fixed FHA loan rates and conforming mortgage rates remains marginal, about an 1/8 of a percent max.
Jumbo 30 year fixed mortgage rates continue for the most part to be 1/2 to 1 percent higher than conforming 30 year fixed rates.