Prices of Residential Mortgage Backed Securities are up today. Mortgage rates, which move the opposite RMBS, are now pressured to go up. The 10 year treasury yield, a leading indicator for conforming 30 year fixed mortgage rates is up over 2 percent overall at 3.5 as of 9:55 pm PST. When mortgage rates were near 4.5 percent fixed for 30-years just 2 1/2 weeks ago the yield was below 3.2 percent. Today’s up tic in RMBS prices has not been significant enough to move mortgage rates yet.
Yesterday RMBS prices went up on strong demand at the treasury bond auction and weak new home sales. Mortgage rates stabilized as the 30-year fixed mortgage rate moved nearer 4.75 percent than 5 percent. 30-year fixed mortgage rates have been at 4.875 percent at par for most of the past 3 weeks. The trend the past couple days has been for the stock market to go up and mortgage ratesto go up and vice versa.
Today’s Mortgage Rates
FreeRateUpdate.com research of wholesale mortgage lender’s current mortgage ratesshows the following interest rates at par. Par rates are the lowest available interest rates without the requirement by the lender for the borrower to pay additional points and fees.
Today’s 30 year fixed mortgage rate is 4.875 percent. Today’s 15 year fixed mortgage rate is 4.25 percent at par. Today’s 5/1 ARM mortgage rate is 3.75 percent. Today’s mortgage rates are virtually unchanged from the levels we’ve seen over the past 2 1/2 weeks.
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