Today’s Mortgage Rates Up 1/8, FHA Mortgage Rates Updated | Jumbo 30 Year Report
By: Ed Ferrara
Prices of Mortgage Backed Securities have given back much of their gains from the past few days this afternoon. Mortgage rates which move opposite MBS have been affected negatively. As a result current mortgage rates are up today as mortgage lenders have re-priced their rate sheets a tad higher. 30 year fixed mortgage rates are now at 4.625%. Current mortgage rates are up an 1/8 from the magic 4.5% we never thought we’d see but was a reality just days ago. 4.5% 30 years fixed is the lowest par rate on record to date. Though current mortgage rates are up an 1/8 from this morning pretty much across the board it’s still very likely when Freddie Mac releases their weekly mortgage rates survey results on Thursday we’ll have a new all time low making news which should spur mortgage application activity. When everybody rushes to apply they may be disappointed to see rates already higher. There was mostly mixed economic data that had little affect on mortgage rates markets today which were more volatile than usual. The biggest report affecting mortgage rates directly was the announcement October pending homes sales are up and at a 2 year high.
Today’s Mortgage Rates
FreeRateUpdate.com research of wholesale mortgage lender’s mortgage rates today displayed on their rate sheets shows a deterioration in pricing causing a rise of about an 1/8% on most programs. The current 30 year fixed mortgage rate is 4.625%, up from 4.5%. The current 15 year fixed rate is 4.25%, up from 4.125%. The current 5/1 ARM rate is 3.625%, up from 3.5%.
Today’s FHA Mortgage Rates
The current FHA 30 year fixed rate is up 1/4% from 4.5% and now at 4.75%. We still find many lenders to be advertising 5% for an FHA mortgage rates 30 years fixed no matter what’s going on with the market but 4.75% is indeed available. The current FHA 15 year fixed rate is 4.5%. The current FHA 5/1 ARM rate is 3.75%.
Today’s True Jumbo Mortgage Rate, 30 Years Fixed.
Today’s 30 year fixed jumbo mortgage rates are up slightly from 5.625% and at 5.75%. True jumbo mortgages have been at about 5.75% for quite some time as investors remain relatively weary of the high loan amounts due to their increased risk.