Yesterday proved to be a wild ride for the mortgage interest rate market. Current mortgage rates shot up in the early morning only to recover in the afternoon in what was a wash. Current mortgage interest rates for Fannie Mae, Freddie Mac and FHA loan products are stable. Mortgage backed securities prices, which drive mortgage interest rates in the 
opposite direction, are up slightly (FNMA 30-yr 4.5 +2/32 at 100.31). The benchmark 10 year treasury yield which is widely used to forecast mortgage interest rates is up +1/32 and at 3.64 as of 7:39 AM PST. Economists had expected Pending Home Sales to be flat in the month of December. Pending Home Sales data released at 7:00 AM PST shows an unexpected increase in the month of December.
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Current mortgage rates:
30 year fixed current mortgage rates are as low as 4.75% at par and trending downward. 15 year fixed current mortgage rates are as low as 4.25% and unchanging. 15 year fixed current mortgage rates have moved only an 1/8 of a point off 4.25 in both directions in the past bunch of months. 5/1 ARM interest rates today are at 3.75%. Overall conforming mortgage interest rates today are stable with a slight chance of an improvement.
30 year fixed FHA mortgage rates today are as low as 4.75% at par. 15 year fixed FHA mortgage rates today are as low as 4.5%. 5/1 ARM FHA mortgage rates today are as low as 3.75% at par. You’ll notice 30 year fixed and 5/1 ARM FHA mortgage rates are the same as conforming Freddie/Fannie loans.
30 year fixed jumbo mortgage rates today remain as low as 5.75%.
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