Mortgage Rates Today 3/22/10 – Today’s FHA 30 Year Fixed Loan Rates Low
By: Ed Ferrara
Mar. 22, 2010 (FreeRateUpdate.com) – Conventional 30-yr fixed rate mortgages remain available to well-qualified consumers paying a standard .07 to 1 point origination at 4.75%, our research of wholesale lenders’ rate sheets shows. This rate has been available for almost a month.
15 year fixed mortgage rates are at 4.125%, down from 4.25, and the 5/1 ARM remains at 3.625.
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30 year fixed FHA loan rates are also available at 4.75 but with higher closing costs. Other FHA mortgage rates include the FHA 15-year fixed rate, at 4.5%, and 5/1 ARM rate of 3.625. MI, charged on every FHA loan, currently 1.75% of the loan amount due at closing, will be lifted to 2.25% on April, 05. The home-buyer tax credit of up to $8,000, which is applicable toward closing costs on FHA loans, expires on April 30th.
Jumbo mortgage rates are near an all time low. Today’s true jumbo 30 year fixed rate is 5.625%, with 5.5 available to consumers with very low LTV’s.
Mortgage-backed securities prices, which drive mortgage rates in the opposite direction, are up today +7/32. As a result it’s possible we see an improvement in mortgage rates, most likely in the form of better pricing (lower costs associated with any given rate).
The benchmark 10 year treasury yield, used to forecast mortgage rates, is down and at 3.67 -0.02 on the day as of 9:53 AM PST.
To display today’s rates on your website or blog use our today’s mortgage rates widget.
FreeRateUpdate.com researches over 2 dozen wholesale lenders’ rate sheets daily to determine the most accurate mortgage rates possible. All rates mentioned in this article are available today to well-qualified consumers at a standard .07 to 1 point origination.