Freddie Mac Probably will Report 30 Year Fixed Mortgage Rates Under 5 Tomorrow
By: Ed Ferrara
Current 30 Year Fixed Mortgage Rates have been Under 5 Percent for Weeks
Freddie Mac Likely to Report Fixed 30-Year Under 5 Tomorrow
Though a big deal is sure to be made of Freddie’s report tomorrow, current mortgage rates have been under 5 percent for weeks now. We’ve reported 30 year fixed mortgage rates at 4.875 percent since early this month until this past Friday when mortgage rates dipped and we changed our 30 year fixed mortgage rates to a near all time low 4.75 percent, which is in fact available today. Mortgage rates are actually nearing an unbelievable level of 4.625 percent for a 30 year fixed.
Current Mortgage Rates Forecast
The benchmark 10 year treasury yield, used to forecast 30 year fixed mortgage rates, is nearing a 4 month low. It was up slightly today, as a result wholesale lenders adjusted mortgage rates to reflect slightly higher fees, but not higher rates. The current 30 year fixed mortgage rate, as mentioned before, is a eye opening 4.75 percent, it’s lowest level since April when rates set all time record lows. Expect the 10 year treasury yield to waffle between 3.25 to 3.4 in the next few days with mortgage rates between 4.625 and 4.875 percent, at par.
15 year fixed mortgage rates are down to 4.25 percent, at par. They’ve been at this level for the entire month of September. 5/1 ARM mortgage rates are down significantly in the past 2 days and now at 3.625 percent at par, a great option for anyone moving within 5 years.