30-Year Fixed Mortgage Rates Sitting Still

Mortgage-backed securities prices, which drive mortgage interest rates in the opposite direction, continue to perform well even as the economy officially pulls out of the recession. As a result, 30-year fixed mortgage rates remain near all time record lows, at 4.125% for well-qualified consumers with a 20% down payment who pay 1 point origination. 15-year fixed mortgage rates are at 3.625%, an 1/8 off their record low. Both fixed mortgage rates were verified by FreeRateUpdate.com research of over 2 dozen wholesale lenders' rate sheets for brokers.

FHA loan rates continue to match conforming mortgage rates for the most part. Today's 30-year fixed FHA loan rate is 4.125% for well-qualified borrowers, the same as today's conforming 30-year fixed rate; however, MI and other FHA fees make closing costs significantly higher than that of a conforming mortgage at the same note rate and origination.

Jumbo mortgage rates are unchanged and haven't budged in weeks. Today's 30-year fixed jumbo loan rate is 5.125%

Wells Fargo, the nation's number one originator of conventional mortgages today, is advertising a 30-year fixed rate of 4.375%, with an APR of 4.559%, on their website.

Today's Mortgage Rates - Available to well-qualified consumers with a 20% down payment who pay about 1 point origination.

Conforming

• 30-year fixed: 4.125%

• 15-year fixed: 3.625%

• 5/1 ARM: 3.250%

FHA

• 30-year fixed: 4.125%

• 15-year fixed: 3.750%

• 5/1 ARM: 3.000%

Jumbo

• 30-year fixed: 5.125%

Written by Ed Ferrara
September 22, 2010 Published on Realty Times

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