Mar. 09, 2010 (FreeRateUpdate.com) – Mortgage rates today are unchanged. 30 year fixed rates are still at 4.75 for well-qualified consumers paying a standard .07 to 1 point origination. 15 year fixed rates are at 4.25, while 5/1 ARM’s are available at 3.625.
FHA 30 year fixed rates continue to mirror those of standard (conforming Freddie Mac FRE and Fannie Mae FNM insured) mortgages, with the exception of the 15 year fixed FHA rate which is slightly higher at 4.5.
Jumbo 30 year fixed rates, for true jumbo mortgages exceeding jumbo conforming loan amounts, are at 5.625. 30 year fixed loans falling within conforming jumbo limits, which vary for each county depending on median home prices, are available fixed for 30 years at 4.875%.
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Mortgage-backed securities prices, which drive mortgage rates in the opposite direction are up today, +7/32 (FNMA 30-yr 4.5 at 101.12). As a result mortgage rates have stabilized further at current levels. The benchmark 10 year treasury yield, used to forecast mortgage rates, is at 3.69, down -0.01.
FreeRateUpdate.com researches over 2 dozen wholesale lenders’ rate sheets on a daily basis. Rates in this article are verified as being available to well-qualified consumers today at .07 to 1 point origination, considered standard. These rates are referred to in the mortgage industry as “par rates”.
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