Current Mortgage Rates Up – Current 30-yr Mortgage Rate Approaching 5 Percent
By: Sheldon Levene
The benchmark yield, down over 2 percent overall yesterday, is back up over 2 percent today and at 3.38 percent. The benchmark 10 year treasury yield is the leading indicator for current mortgage rates. When 30 year fixed mortgage rates approached 4.5 percent late last week the yield was under 3.2.
Current mortgage rates approaching 5 percent today.
Even with near all time record low mortgage rates last week the MBA says mortgage applications dropped 1.8 percent.
Current Mortgage Rates
FreeRateUpdate.com research of wholesale lender’s current mortgage rates shows 30 year fixed mortgage rates as low as 4.875 percent available. A principal and interest payment on a mortgage loan of $200,000 at an interest rate of 4.875 percent, fixed for 30 years, is $1,058.42. Home affordability is obviously pretty darn good. Though the payment does not include taxes and insurance, the interest portion of the payment is a tax write off.
Current 15 year fixed mortgage rates are as low as 4.25 percent at par. Current 5/1 ARM mortgage rates are as low as 3.75 percent at par. Par rates are the lowest rates available without paying additional points and fees.