Feb 4. (FreeRateUpdate.com) – Prices of mortgage-backed securities are up big today +15/32 (FNMA 30-yr 4.5 at 101.11) aided by the falling stock market. Mortgage interest rates move the opposite MBS prices and have solidified with 30 year fixed rates holding at 4.75 for both conforming and FHA loans. Currently there is virtually zero risk of an increase for mortgage interest 
rates this afternoon. While MBS prices are up, the Dow has tanked dropping to 10,002.18 -268.37 points (-2.61%). The falling stock market has helped bonds and mortgage rates alike as investors seek safe havens as the re-think recovery. The benchmark 10 year treasury yield, used to forecast mortgage interest rates by most mortgage professionals, is down to 3.6, -.10.
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Conforming 30 year fixed mortgage interest rates at par remain at 4.75%, with a chance to improve before days end. Pricing though, which affects cost of the loan has already improved in reality improving rates just not enough for a rate adjustment. 15 year fixed interest rates remain the same at 4.25% as is the case with the 5/1 ARM which is holding at 3.75%. With MBS prices up and the benchmark yield down the forecast is for lower mortgage interest rates in the short term.
FHA mortgage rates also remain the same with the FHA 30 year fixed par rate at 4.75% mirroring the conforming rate.
Jumbo mortgage rates are also the same with the jumbo 30 year fixed at 5.75%.