Current Mortgage Rates: Mortgage Interest Rates Better by an 1/8, Current 30-Yr Fixed Rate is 4.75.

Current mortgage rates are better by an 1/8 percent. The biggest event of the day was a 10 year treasury bond auction held at 1:00 PM EST. The auction drew weak demand pushing prices of Residential Mortgage Backed Securities down slightly. RMBS prices were up significantly in the morning. Mortgage interest rates which move opposite RMBS prices are down slightly today. Today's slight improvement in mortgage interest rates comes as unvarying days for the mortgage rate market is becoming the trend. The benchmark 10 year treasury yield, a leading indicator for conforming mortgage rates, is down a tad and at 3.48 as of 1:31 PM PST. Almost a month ago 30 year fixed mortgage interest rates approached 4.5 percent fixed for 30 years before shooting up a 1/4 percent in a matter of a couple hours.

Current Mortgage Interest Rates

FreeRateUpdate.com research of wholesale mortgage lender's current mortgage rates shows mortgage interest rates improved by about an 1/8 percent. The current 30 year fixed mortgage rate is 4.75 percent at par. The current 15 year fixed mortgage rate is 4.25 percent at par. The current 5/1 ARM rate at par is 3.5 percent.

Current Mortgage Rates – National Averages

Zillow reports the current mortgage rate, as a national average, fixed for 30 years at 4.81 percent as of 1:44 PM PST. Bankrate.com which is always on the higher end reports the national average current 30-year fixed mortgage rate at 5.11 percent, down from 5.15 percent last week. Bankrate says 15-year fixed and 5/1 ARM rates are down from last week as well.

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