Mar. 26, 2010 (FreeRateUpdate.com) – 30-yr fixed mortgages remain available at 4.875% today to well-qualified consumers paying a standard .07 to 1 origination.
Rates are up 1/8 from levels earlier this week as a result of a plunge in mortgage-backed securities prices Wednesday. Mortgage interest rates move opposite MBS prices.
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15-yr fixed mortgage rates today are also up and at 4.25%. 5/1 ARM rates are at 3.75, also up an 1/8, from 3.625.
FHA mortgage rates continue to mirror conforming interest (conventional) rates. FHA 30-yr fixed rates are actually slightly better. The 30-yr fixed FHA mortgage rate today is 4.75%. Despite origination and the interest rate being the same, an FHA loan is more expensive thanks to MI and other FHA fees charged at closing.
Jumbo 30-yr fixed mortgage rates are steady and at 5.625 still.
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FreeRateUpdate.com researches over 2 dozen wholesale lenders’ rate sheets daily to determine the most accurate mortgage rates available to well-qualified consumers at a standard origination.