There’s not much going on in the mortgage rate market today. Why? No major economic reports. Following a day where we saw conforming 30 year fixed mortgage rates dip from 4.75% to 4.625% mortgage interest rates are flat. How low is today’s 30 year fixed rate? Well we see 4.625% once in a blue moon. We’ve seen it four times this year. This time maybe the last as right now we’re closer to the end of the government program in which they purchase Mortgage Backed Securities credited with driving today’s mortgage rates below 5%. MBS prices are flat today, the main reason it’s highly unlikely we see any change in mortgage rates. The benchmark 10 year treasury yield is down slightly and at 3.32, it’s lowest level in over a month. When 30 year fixed mortgage rates approached 4.5% almost 2 months ago the yield was below 3.2.
Today’s Mortgage Rates
The best way to determine current mortgage rates is by looking at wholesale lender’s rate sheets. FreeRateUpdate.com research of wholesale lender’s current mortgage rates shows mortgage rates today are flat. The current 30 year fixed rate is 4.625%, down from 4.75% earlier in the week and 4.875% last week. The current 15 year fixed rate is 4.25%, remaining the same. The current 5/1 ARM rate is 3.75%. The current 20 year fixed rate is 4.5%. These rates are for conforming mortgages at par. Par rates are lowest rates available without buy down points.
FHA Mortgage Rates
The current FHA 30 year fixed rate is 4.75%. The current FHA 15 year fixed rate is 4.375%. The current FHA 5/1 ARM rate is 4.875%. FHA mortgage rates are across the board about 1/8% higher than conforming mortgages currently.
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