Apr. 07, 2010 (FreeRateUpdate.com) – Today, particularly in the afternoon, 30-yr fixed mortgage rates improved to 4.875 on mortgage-backed securites price gains. So much for the dramatic spike in rates that was speculated to follow the Fed MBS exit (Mar. 31st). Added jobs and existing home sale pushed rates up twice, from 4.75 to 5% where they settled in for a few days before today’s decline.
Today’s 15-yr fixed mortgage rate is down as well, from 4.375 to 4.25. The 5/1 ARM rate remains 3.75.
FHA mortgage rates now mirror those of conforming mortgages, with the exception of the 15-yr fixed rate, slightly higher at 4.5. FHA loans come with highers costs due to MI and other FHA fees.
Jumbo mortgage rates are steady. Today’s jumbo 30 year fixed rate is 4.75.
These rates are available to well-qualified consumers willing to pay a standard .07 to 1 point origination.
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