Mortgage Rates 6/8: Mortgage Interest Rates Cemented at Record Low
By: Ed Ferrara
June 8, 2010 (FreeRateUpdate.com) – If you haven’t gotten around to it yet, you may want to lock a fixed mortgage rate today. 30-year fixed mortgage rates are still at 4.375% for well-qualified borrowers paying a point origination. 15-year fixed mortgage rates remain at 3.875%. These rates are verified by FreeRateUpdate.com research of over two dozen wholesale lenders’ rate sheets for brokers.
Today’s FHA mortgage rates continue to mirror conforming mortgage interest rates. That means FHA 30-year fixed-rate loans are available today at 4.375% as well, a record low. Despite the same note rate, APR on an FHA loan is typically higher because of MI and other FHA fees.
Today’s jumbo mortgage rates, also at record lows, are steady. Today’s jumbo 30-year fixed-rate is 5.375%.
Wells Fargo, the nations leading originator by volume, is offering a 30-year fixed rate today of 4.75 with an APR of 4.939%.
Mortgage-backed securities, which drive mortgage rates in the opposite direction, are up today +2/32 (FNMA 30-yr 4.5 at 102.30), not enough to move mortgage rates.
To display today’s mortgage rates on your website or blog, please use our free mortgage rates widget.
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