Mortgage Interest Rates: Current Interest Rates Below 5 and Improving
By: Sheldon Levene
Today’s mortgage interest rates, though up from last week, are exceptionally good and still below 5 percent, 30-years fixed at par. Par rates are the lowest interest rates available a lender can give without charging additional points and fees. Today’s 30 year fixed mortgage interest rate is at 4.875 percent, at par. Compare to 1 year ago. A year ago, 30-year fixed mortgage rates averaged 6.46 percent according to Freddie Mac. Yesterday Freddie said in their weekly mortgage rates survey which reports average 30 year fixed mortgage rates that the average 30 year fixed mortgage rate for Monday through Wednesday of this week was 4.92 percent.
Current Mortgage Interest Rates
The benchmark 10 year treasury yield, used to forecast conforming 30 year fixed mortgage interest rates, is down big today and at 3.42 -0.05 (1.35%) as of 8:26 am PST. The yield last Thursday touched a 4 1/2 month low before moving up significantly starting Friday afternoon. As a result, 30 year fixed mortgage rates,which were threatening to touch 4.5 percent at par, moved up a 1/4 percent to 4.875 where they’ve held all week according to FreeRateUpdate.com research of wholesale lender’s current mortgage interest rates.
Other Current Interest Rates
15 year fixed mortgage interest rates are up slightly and at 4.375 percent at par. 5/1 ARM mortgage interest rates are also up a tad and at 3.875 percent at par.