Provided By Ed Ferrara of Realty Times
30 year fixed mortgage rates are settling at levels significantly higher than all time lows set just weeks ago. Conforming 30 year fixed mortgage rates today are at 4.25% for well-qualified borrowers who pay a standard origination fee (points) of .07 to 1%. Current 15 year fixed mortgage rates today are at 3.75%.
FHA mortgage rates, which are driven by the same mortgage-backed securities prices as conforming fixed mortgage rates, are also up about a quarter percent higher than they were two weeks ago and are nearly identical to conforming mortgage rates today. Today's California 30 year fixed FHA loan rate is 4.125%. MI and other FHA fees make FHA loans more expensive than conforming mortgages.
Jumbo mortgage rates have avoided the spike that has hit conforming and FHA interest rates. Current 30 year fixed jumbo mortgage rates remain at a record low 4.875%.
MBS prices, which move mortgage rates in the opposite direction, have been gaining on low inflation, falling stocks, Euro debt concerns, and tension in Korea, helping to stabilize mortgage rates which had been rising quickly.
Do you have questions about the low mortgage rates? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
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