Current Mortgage Interest Rates: Today’s Mortgage Interest Rates Down 1/8.

The benchmark 10 year treasury yield, a reliable indicator for current mortgage interest rates, is at 3.33 down 0.0670 (1.97%) overall today. This downward rebound for the yield comes on the heals of sharp increase following a 4 1/2 month low just 2 weeks ago.

Today’s Mortgage Interest Rates

Current mortgage interest rates are down almost a .25 percent from this morning. 30 year fixed mortgage rates had remained at 4.875 percent at par for several days following an increase in the 10 year yield a week and a half ago. Today’s 30 year fixed mortgage interest rate is 4.75 percent at par. Par rates are the lowest available interest rates without the requirement of additional points and fees by the lender. Today’s 15 year fixed mortgage interest rate is at 4.25 percent, down from 4.375. Today’s 5/1 ARM mortgage interest rate is at 3.75 percent, down from 3.875 percent.

Current Interest Rates Forecast

Mortgage interest rates are down across the board about an 1/8 of a percent from this morning. A little bit more of a change in the secondary mortgage market, primarily the prices of residential mortgage backed securities, which move the opposite yields and rates, could drive mortgage rates down to 4.625 percent fixed for 30 years.

Mortgage Interest Rates as Reported by Zillow, Bankrate.

Bankrate.com reports mortgage interest rates as follows as of 12:03 PM PST.
Product Rate Last week
30 yr fixed 5.19% 4.99%
15 yr fixed 4.68% 4.63%
5/1 ARM 4.25% 4.06%
Zillow reports it’s national 30 year fixed mortgage rate currently averaging 4.74 percent down about a .25 percent from this morning. That’s a huge change.