Current Interest Rates: Today’s Mortgage Interest Rates Flat, No Economic Data Today

Feb. 8 (FreeRateUpdate.com) – Mortgage interest rates shouldn’t do much today. There’s not any economic data set to be released today. Last week the mortgage-backed securities market was up and down and filled with volatility. Prices of mortgage-backed securities drive mortgage rates in the opposite direction. MBS prices finished down on Friday leading many lenders to reprice mortgage interest rates at their lowest level in almost 2 months. We reported 30 year fixed mortgage interest rates very near 4.625% at par on Friday.

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Mortgage Interest Rates Forecast

The benchmark 10 year treasury yield, used to forecast conforming and FHA mortgage interest rates, is at 3.58, +0.02 as of 7:47 AM PST. The Wall Street Journal reported this over the weekend treasury bulls expect the yield to peak at 4. If that’s the case conforming mortgage interest rates would likely remain in the low 5’s for a 30 year fixed.

Current Mortgage Interest Rates at Par, Conforming, FHA and Jumbo:

Mortgage interest rates are unchanged from Friday’s close. Some investors have re-priced slightly for the worse but not enough to affect current par rates. The current conforming 30 year fixed rate at par remains 4.75%. The 15 year fixed par rate today is 4.25%. The current 5/1 ARM par rate is 3.75%. Par rates typically come with about 1 point origination but not a buy-down, also known as discount points.

Current FHA mortgage rates are identical to conforming mortgage rates with the exception of the 15 year fixed, which is at 4.5% at par.

Current jumbo mortgage rates remain significantly higher than conforming and FHA mortgage rates but historically low. The current 30 year fixed jumbo rate is 5.75% at par.

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