Mar. 08, 2010 (FreeRateUpdate.com) – Current conforming, FHA, and jumbo mortgage rates are flat. Conforming (Freddie MAC FRE / Fannie Mae FNM insured) 30 year fixed mortgage rates remain at 4.75%. This rate is available to well-qualified consumers willing to pay a standard .07 to 1 point in origination as verified by FreeRateUpdate.com research of wholesale lenders’ rate sheets. The current conforming 15 year fixed rate remains 4.25%. The current conforming 5/1 ARM rate remains 3.625.
Looking for the lowest mortgage rates? Click here to search local mortgage rates.
FHA mortgage rates, also flat, continue to mirror rates of conforming mortgages. It should be noted that FHA loans come with much higher costs due to MI and FHA fees not associated with a standard Freddie (FRE) or Fannie Mae (FNM) insured mortgage. Also the FHA 15 year fixed rate is a 1/4 higher than the conforming rate and at 4.5%.
Jumbo mortgage rates, though not moved by the same MBS prices as conforming and FHA loans, remain steady as well. The current jumbo 30 year fixed rate remains 5.625 with a few lenders’ like Wells Fargo offering 5.5 for borrowers with extremely low LTV’s.
Mortgage-backed securities prices, which move mortgage rates their opposite, are flat today.
To display current mortgage rates on your website or blog use our mortgage rates widget.