Today’s Mortgage Rates: 30 Year Fixed Mortgage Rate Nearing 4.5 Percent. Benchmark Yield Down.

Today's mortgage rate very near 4.5 percent

The benchmark 10 year treasury yield, the leading indicator for 30 year fixed mortgage rates,  dipped to a 4 1/2 month low to 3.175 this afternoon, down big from 3.218 where it opened this morning.  As a result mortgage rates are likely to improve, this afternoon for West Coast banks and tomorrow morning for the rest. Current mortgage rates, already as low as 4.625 percent for a 30 year fixed mortgage, at par, are nearing the psychological barrier of 4.5 percent. 4.5 percent for a 30 year fixed mortgage is the target rate many large companies like Century 21 have lobbied the government to aim for. Why? Many analysts say 4.5 percent for a 30 year fixed mortgage is also the rate that will move the housing market.

Just How Close are Today’s Mortgage Rates to 4.5 Percent, 30-years fixed.

Today’s Mortgage Rates are very near 4.5 percent. Sure Bankrate.com shows 30 year fixed mortgage rates today at 5.11 percent, and Zillow at 4.93 percent. So, what are we talking about?

FreeRateUpdate.com research of wholesale mortgage lender’s current rate sheets shows 30 year fixed mortgages are available as low as 4.625 percent at par. With just an .125 movement in pricing, in other words .125 less in closing costs, 30 year fixed mortgage rates will be at 4.5 percent at par. That means a borrower can obtain a 30 year fixed mortgage at an interest rate of 4.5 percent without paying any additional points and fees.

Use of this article without permission is a violation of federal copyright laws.