Mortgage Rates Hit New Low
| Conventional fixed mortgage rates hit a new low. A 30-year fixed mortgage rate available to well-qualified consumers at 1 point origination dropped to 4.375%. A 15-year fixed-rate dropped to 3.875%. The decline in mortgage rates are due to a big increase in mortgage-backed securities prices.
FHA mortgage rates continue to mirror those of conventional mortgages. Jumbo mortgage rates are down as well. A 30-year fixed jumbo loan rate for true jumbo loans exceeding conforming “high balance” county loan limits is 5.375%. These rates are available to well-qualified consumers paying a standard .07 to 1 point origination. Wells Fargo, the number one originator of residential mortgages in the US, is advertising a 30-year fixed-rate of 4.875% with an APR of 5.065% (source: Wells Fargo website). Today’s Mortgage Rates - available to well-qualified consumers paying a standard .07 to 1 point origination. 30-yr fixed-rate – 4.375% 15-yr fixed-rate – 4.000% /1 ARM rate – 3.500% FHA 30-yr fixed-rate – 4.375% FHA 15-yr fixed-rate – 3.875% FHA 5/1 ARM rate – 3.500% VA 30-yr fixed-rate – 4.625% Jumbo 30-yr fixed-rate – 5.375% Jumbo Conforming 30-yr fixed-rate – 4.625% This article was taken from RealtyTimes dated 6/8/10. |
