Mortgage Rates 6/9/10: 30-Year Fixed Mortgage Rates Still at Low
By: Ed Ferrara
June 9, 2010 (FreeRateUpdate.com) – Mortgage-backed securities prices, which drive fixed mortgage rates in the opposite direction, are up slightly today +3/32 (FNMA 30-yr 4.0 at 100.09), not enough to move mortgage rates. The small improvement in MBS prices stabilizes mortgage rates further at all time record lows.
30-year fixed mortgage rates are at 4.375% today for well-qualified consumers paying a standard .07 to 1 point origination. 15-year fixed mortgage rates are at 3.875%.
FHA mortgage rates continue to be the same as conforming. Higher fees including MI make FHA loans more expensive.
Jumbo mortgage rates are steady. Today’s jumbo 30-year fixed mortgage rate is 5.375%.
Wells Fargo recently lowered their 30 year fixed mortgage rate advertised on their website from 4.875% to 4.75% with an APR of 4.939. Wells Fargo originates a higher volume of new mortgages than any other lender in the United States.
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