Mar. 12, 2010 (FreeRateUpdate.com) Today’s mortgage rates are steady at their lowest level this year. Today’s 30 year fixed rate remains available to well-qualified consumers at a standard .07 to 1 point origination as verified by FreeRateUpdate.com research of wholesale lenders’ rate sheets.
Today’s 15 year fixed rate is still 4.25, and the 5/1 ARM rate 3.625.
FHA mortgage rates continue to be nearly identical to conforming (standard) mortgage rates, except for the 15 year fixed FHA loan rate, higher by 1/4 at 4.5%.
30 year fixed jumbo mortgage rates remain at 5.625%. Borrowers with an extremely low LTV may be able to find rates better by an 1/8.
Mortgage-backed securities prices, which drive mortgage rates in the opposite direction, were flat this week leading to very stable mortgage rates.
The benchmark 10 year treasury yield, used to forecast mortgage rates, is at 3.71 as of 11:00 AM PST, down – 0.01.
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Rates in this article are available to well-qualified consumers at a standard .07 to 1 point origination as verified by FreeRateUpdate.com research of wholesale lenders’ rate sheets. These rates are known in the mortgage industry as “par rates”.