Current Mortgage Rates Headed Down. Current Mortgage Rate at 4.875 Percent, Fixed for 30 Years.
By: Ed Ferrara
Current mortgage rates are likely headed down. Today the benchmark 10 year treasury yield, the best current indicator for fixed conforming mortgage rates, dropped substantially to 3.34 down 0.1370 (3.94%). The yield continues a steady descent that started weeks ago when it was as high as 3.7 percent. The yield was as high as 3.47 yesterday.
Current 30 Year Fixed Mortgage Rates:
Current 30 year fixed mortgage rates remain just above all time lows. FreeRateUpdate.com research of wholesale lender’s current mortgage rates show 30 year fixed interest rates as low as 4.875 percent at par. Current 30 year fixed mortgage rates are unchanged from earlier this week. Freddie Mac‘s weekly report on average 30 year fixed mortgage rates says they inched lower this week to 5.07 from 5.08 percent. A principal and interest payment on a loan of $200,000, fixed for 30 years at 4.875 percent, is $1,058.42.
Current 15 Year Fixed Mortgage Rates
Current 15 year fixed mortgage rates edged slightly lower today. FreeRateUpdate.com research shows current 15 year fixed mortgage rates as low as 4.25 percent at par. 15 year fixed mortgage rates have waivered between 4.25 percent and 4.375 percent for the past 2 weeks. A principal and interest payment on a mortgage of $200,000, fixed for 15 years at 4.25 percent, is $1,504.56.
Current jumbo mortgage rates remain 1/2 to 1 percent higher than conforming mortgages.
Current FHA loan rates continue to mirror current conforming mortgage rates.
The 5/1 ARM, a Fannie/Freddie insured program with an interest rate fixed for 5 years, has a rate of 3.75 percent currently.