Mortgage Interest Rates Today: Today’s 30 Yr Mortgage Interest Rates Down on Strong Dollar, Sinking Stocks.
By: Bruno Mckenzie
Mortgage rates today are down on a strong dollar and falling stock market. This is a direct affect of yesterday’s Fed statement in which they announced no change to interest rates and said inflation is low and NOT an immediate threat. Mortgage-backed securities prices, which drive mortgage interest rates in the opposite direction, are up big on this news. As a result lender’s have re-priced their rate sheets for the better. 30 year fixed mortgage interest rates have dropped this morning by at least 1/8%. The Dow is down almost 100 points. The benchmark 10 year treasury yield, used to forecast conforming mortgage interest rates, is down significantly today 0.109 (-3.03%) and at 3.49%. Mortgage-backed securities prices, the benchmark yield and mortgage rates have reversed course since yesterday’s fed statement. Now we’ll just have to wait and see how long this mortgage interest rate rally downward continues.
Today’s Mortgage Interest Rates – Moving Lower
FreeRateUpdate.com research of wholesale mortgage lender’s rate sheets shows an improvement this morning in mortgage interest rates. Today’s 30 year fixed interest rate is 4.75%, down from 4.875% yesterday. Today’s 15 year fixed interest rate is still 4.25%, the same level it’s been at for most of the last few months. Today’s 5/1 ARM rate is 3.75%, down from 3.875% yesterday. We’ll update you if we see any change this afternoon.