Current Mortgage Rates Hold Steady Above Record Lows. Current Mortgage Rates are as Low as 4.875 Percent Fixed for 30 Years.
By: Ed Ferrara
Current mortgage rates are holding steady just above record lows. The 10 year treasury yield, the leading indicator for fixed mortgage rates, rose marginally today but not enough to cause mortgage lenders to adjust their current mortgage rates out of the 4′s. The uptic in the yield, from 3 to 3.3, caused some lenders to adjust their current 30 year fixed mortgage rates back from 4 month lows they showed yesterday afternoon when a few banks offered as low as 4.75 percent for a 30 year fixed loan..
Current Mortgage Rates for Fannie and Freddie Insured Home Loans:
Our research of wholesale lender’s current mortgage rates shows 30 year fixed mortgage rates as low as 4.875 percent available currently at par. Current mortgage rates for 15 year fixed mortgages are available as low as 4.375 percent at par. Current mortgage rates for 5/1 ARM’s are as low as 3.875 percent at par. These rates have been available pretty much all week. Freddie Mac reported today Monday through Wednesday 30 year fixed current mortgage rates averaged 5.08 percent. It’s likely next week’s survey may show a sub 5 percent average mortgage rate for the first time since April..
Current Mortgage Rates for Jumbo and FHA loans:
Current mortgage rates for FHA loans mirror traditional mortgages for the most part. FHA loan rates follow the same indicator, the 10 year treasury yield, as conforming mortgages insured by Fannie and Freddie. Current jumbo mortgage rates analysts say average 1/2 to 1 percent higher than traditional mortgages. Jumbo conforming loans, harder to qualify for and often more costly than traditional FNMA mortgages, have virtually the same par rates as traditional loans as well.