Mortgage Rates 8/28: Current Mortgage Interest Rates Up Slightly Friday
By: Ed Ferrara
August 28, 2010 (FreeRateUpdate.com) – Current 30-year fixed mortgage interest rates were up slightly Friday, off record lows, and at 4.125% for well-qualified borrowers who pay 1 point origination. 15-year fixed mortgage rates were also up a tad and at 3.625%.
Current 30-year fixed FHA loan rates, which are driven by the same bonds as conforming mortgage interest rates, are also up an 1/8 to 4.125%. Despite FHA mortgage rates being very similar to conforming loan rates, closing costs and APR are higher because of MI and other FHA fees charged only on FHA loans.
Current jumbo mortgage rates are also up a tad and today’s jumbo 30-year fixed loan rate is 5.125%.
Current Wells Fargo mortgage rates are unchanged. Today’s Wells Fargo 30-year fixed interest rate is down 1/8 from last week and at 4.375% with an APR of 4.559 according to their website.
A gloomy outlook for the global economy has continued to hurt stocks, helping mortgage-backed securities prices, which drive mortgage rates in the opposite direction.
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