Home Buyer's Blog

November 3rd, 2010 7:00 AM
Falling mortgage-backed securities prices have pressured conventional fixed mortgage rates, which move in the opposite direction, up this week, to 1/8 above all time record lows. 30 year fixed mortgage rates are at 4% for well-qualified borrowers who pay about 1 point origination. 15 year fixed mortgage rates today are at 3.5%. Early last week 3.875% was available on a conforming 30 year fixed. FHA loan rates, which are driven by the same MBS prices as conventional mortgage interest rates, also edged up off record lows. Today's 30 year fixed fha mortgage rate is also 4%; however, MI and FHA fees make closing costs higher on an FHA loan, even at the same note rate and origination. Jumbo mortgage rates today are cemented at 4.875%, 30 years fixed. ClickHeretoReadMore

Posted by Keith Clark on November 3rd, 2010 7:00 AMPost a Comment (0)

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