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Current Mortgage Rates Conf/FHA Steady: Current Mortgage Rates at 4.875%, 4.75% FHA

By: | January 14th, 2010

Prices of mortgage backed securities are up just a tad today steadying current mortgage rates, both conforming and FHA, under 5%. In the past few days we’ve seen FHA mortgage rates, particularly FHA 30 year fixed mortgage rates, dip below conforming mortgage rates. MBS prices, of which current mortgage rates move opposite, were pushed up today by weak economic data. In late 2009 mortgage rates set all time record lows when 30 year fixed mortgage rates dipped to 4.5%¬†onsurging mortgage backed securities prices. There’s much speculation that mortgage interest rates, which have ben on the rise, will spike when the Fed discontinues their MBS buying program in March. The benchmark 10 year treasury yield, used to forecast current mortgage rates, is down and at 3.73 as of 9:06 AM PST.

Current Mortgage Rates:

FreeRateUpdate.com research of wholesale lender’s current mortgage rates shows an improvement in mortgage rates from earlier in the week. 30 year fixed current mortgage rates are at 4.875% for conforming mortgages, 4.75% for FHA loans and at 5.75% for jumbo mortgages. 15 year fixed rates are at 4.25% for conforming mortgages. 5/1 ARM conforming mortgage rates are at 3.75% at par. All rates mentioned are at par. Par rates are the low available rates that require just normal points and fees to be paid, nothing extra.

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