Mortgage Interest Rates: No Change Today, Current Mortgage Rate at 4.75 Fixed for 30 Years

Mortgage interest rates are unmoved today. Prices of Residential Mortgage Backed Securities are up slightly despite a very weak demand at today’s 10 year treasury bond auction. Mortgage interest rates move opposite RMBS prices. The 10 year treasury yield, the leading indicator for conforming mortgage rates, is down 0.0280 (0.81%) and at 3.45 as of 12:39 PM PST, it’s lowest level in about a week.

Freddie Mac said today in their weekly mortgage rates survey results that the average conforming 30 year fixed mortgage interest rate Monday through Wednesday was 4.91 percent, down from last week’s 4.98.

Zillow says the national 30 year fixed mortgage interest rate is 4.70 percent, down from almost 4.8 percent yesterday.

Today’s Mortgage Interest Rates

The most accurate way to determine current interest rates is by taking a look at wholesale mortgage lender’s rate sheets. FreeRateUpdate.com research of wholesale mortgage lender’s current mortgage interest rates shows a slight improvement in pricing (closing costs) but no change in interest rates today. The current 30 year fixed mortgage interest rate is 4.75 percent at par. The current 15 year fixed mortgage interest rate is 4.25 percent at par. The current 5/1 ARM rate is 3.5 percent at par. Par rates are the lowest available interest rates that do not require additional points, also known as a buy down,  to be paid by the borrower.

Today’s FHA Mortgage Rates

FHA mortgage rates today are on average a 1/4 percent higher than conforming mortgage rates. While a handful of lenders are offering FHA mortgages, fixed for 30-years, as low as 4.75 percent, the average par rate for an FHA 30 year fixed mortgage is 5 percent. Major lenders like Wells Fargo and Ditech advertise 30 year fixed FHA mortgages at 5 percent.