We all watched conforming 30 year fixed rates, even on FHA loans, spike from an all time low of 4.5% to 4.75% rather quickly. Then they seemed to somewhat stabilize. To start this week though things aren’t looking too good for anybody who was hoping to secure a 30 year fixed at an all time low. Prices of agency mortgage-backed securities dropped again today -10/32 (FNMA 30-yr 4.5 at 100.25) sending mortgage interest rates which move in the opposite direction up. The benchmark 10 year treasury yield, used to forecast mortgage interest rates, is up again +0.057 (+1.61%) and is at 3.6, a 3 month high. The market is waiting on a Fed announcement with more details on how they plan to wind down their buying of agency MBS which is credited with today’s low mortgage interest rates. The Dow is down almost 50 points.
Current Mortgage Interest Rates – FreeRateUpdate.com Research of Wholesale Mortgage Lender’s Rate Sheets
Our research of wholesale mortgage lender’s current interest rates shows rates ballooned today, particularly the 30 year fixed rate. The current conforming 30 year fixed interest rate is 4.875% at par. Up from a late November low of 4.5%. The current 15 year fixed interest rate is 4.25%, the same as it’s been the past 2 weeks and much of the past few months. The current 5/1 ARM rate is 3.875%, up from 3.75%.
Current FHA Mortgage Rates
The current FHA 30 year fixed rate is 5%, up from 4.875% yesterday. The current FHA 15 year fixed rate is 4.625%.
Current Jumbo Mortgage Interest Rates
The current jumbo 30-year fixed rate is 6%, up from 5.875%.
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