Mortgage Interest Rates Flat Today- Current Mortgage Interest Rates at 5.04 – Freddie
By: Ed Ferrara
Mortgage interest rates are flat today. The benchmark 10 year treasury yield, used to forecast mortgage interest rates, decreased to 3.4 percent on housing and job data that signals slight recovery. Freddie Mac released their weekly conforming 30 year fixed average mortgage interest rate report today. Freddie says Monday through Wednesday of this week 30 year fixed mortgage interest rates averaged 5.04 percent, down from 5.07 percent last week. Today’s report from Freddie shows mortgage interest rates are continuing their week over week descent.
Zillow reports 30 year fixed mortgage interest rates at 4.96 percent as of 12:28 PM PST.
FreeRateUpdate.com Research – Current Mortgage Interest Rates
FreeRateUpdate.com research of wholesale lender’s current mortgage interest rates shows the following.
If you’re a prime borrower there’s no reason why you shouldn’t be able to negotiate the following mortgage interest rates with normal points and fees.
30 year fixed mortgage interest rates are as low as 4.875 percent at par, where they’ve been for over a week.
15 year fixed mortgage interest rates are as low as 4.375 percent at par.
5/1 ARM mortgage interest rates are as low as 3.875 percent at par.
Mortgage Interest Rates and Home Affordability
A 30 year fixed mortgage with a balance of $250,000 at an interest rate of 4.875 percent has a monthly principal and interest payment of $1,323.02, comparable to the rent of a 2 bed room apartment in most areas. This payment does not account for taxes and insurance. The interest portion of a mortgage payment is however tax deductible.