Mortgage Interest Rates Today: 30 Year Fixed 4.625% – FHA Mortgage Trainwreck? FHA Rates

Mortgage interest rates remain the same as prices of Mortgage Backed Securities are unchanged today. Data released today points to slightly higher inflation than expected. New housing starts are down to a record low level and that’s good for U.S. home values. The Dow is down 11 points and edging back up toward positive territory. The benchmark 10 year treasury yield, used to forecast conforming mortgage rates, is up .047 and at 3.37% as of 1:25 PM PST.

Current Mortgage Interest Rates

The most accurate way to determine current mortgage interest ratesis to study wholesale lender’s interest rate sheets. FreeRateUpdate.com research of wholesale mortgage lender’s current interest rates shows no change today. The current 30 year fixed interest rate is 4.625% at par. The current 20-year fixed rate is 4.5% at par. The current 15 year fixed interest rate is 4.25% at par. The current 5/1 ARM rateis 3.75% at par. Par rates are lowest rates without buy down points. Right now the secondary mortgage market is pretty stable and there’s not much of a chance of mortgage interest rates going up or down.

Current FHA Mortgage Rates – FHA Loans

Toll Brothers CEO Robert Toll said today that FHA lending could cause another crisis and compared it to a “definite train wreck”. Robert Toll is CEO of a builder and I’m not sure what he knows about mortgages but we disagree. Sure, FHA is lending with just 3% down on new homes. FHA requires income documentation to prove borrower’s debt to income ratios are acceptable. Most bad loans did not require income documentation! Today’s FHA 30 year fixed mortgage interest rate is 4.75% at par. Today’s FHA 15 year fixed mortgage interest rate is 4.25% at par. Today’s FHA 5/1 ARM rate is 3.875% at par. Across the board FHA mortgage rates are about 1/8% above conforming mortgages.

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