Mortgage Rates 6-11: Mortgage Rates Recover, Jumbo Rates Steady
By: Ed Ferrara
June 11, 2010 (FreeRateUpdate.com) – A big drop in mortgage-backed securities prices yesterday indicated mortgage rates could finally go up; however, MBS prices, which drive mortgage rates in the opposite direction, recovered today +15/32 (FNMA 30-yr 4.0 at 99.21) stabilizing mortgage rates.
For now, the conventional 30-year fixed mortgage rate remains at 4.5% for well-qualified borrowers paying a standard .07 to 1 point origination. 15-year fixed mortgage rates remain at 3.875%, an all time record low. These rates have been verified as being available by FreeRateUpdate.com research of over 2 dozen wholesale lenders’ rate sheets for brokers.
FHA mortgage rates continue to mirror conforming rates and are unchanged today.
Jumbo mortgage rates are steady and also unchanged. Today’s jumbo 30-year fixed-rate remains at 5.375%.
Wells Fargo continues to advertise a 4.75% 30-year fixed-rate on their website, with an APR pf 4.939. Wells Fargo is currently the #1 originator by volume of new mortgages.
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