Today’s Mortgage Interest Rates Little Changed, Current 30-Year Fixed-Rate 4.875, Bond Auctions Begin
By: Ed Ferrara
Mortgage Interest Rate - 4.875 30-year fixed
Today’s mortgage interest rates are virtually unchanged from yesterday as three major bond auctions begin totaling $112 billion. Bond yields, like the 10 year treasury yield which is widely considered the leading indicator for 30 year fixed mortgage rates, move opposite bond prices. This weeks auctions are likely to drive bond prices up on high demand, and in turn lower current mortgage rates. Investor demand for bonds is high as inflation fears have subsided. The 10 year treasury yield dipped today to 3.46, not enough to move mortgage interest rates.
Today’s 30 Year Fixed Mortgage Interest Rates
FreeRateUpdate.com research of wholesale mortgage lenders current mortgage interest rates shows 30 year fixed mortgage interest rates as low as 4.875 percent available at par. Rates have been this low for several weeks now though Freddie Mac has reported a steady decline in average 30 year fixed mortgage rates with their latest report released last Thursday saying 30 year fixed mortgage interest rates averaged 5.04 percent, down from 5.07 percent the previous week.
A principal and interest payment on a 30 year fixed mortgage of $200,000 with an interest rate of 4.875 percent is $1,058.42.
Today’s 15 year fixed mortgage interest rate remains 4.375 percent at par.
Today’s 5/1 ARM rate remains 4 percent at par.
Par rates are available to the best qualified borrowers and include normal points and fees only.