Apr. 28, 2010 (FreeRateUpdate.com) – 30-year fixed mortgage rates are currently flat for conforming, FHA and jumbo mortgages as MBS prices, which drive mortgage rates in the opposite direction, waver back and forth. Today MBS prices are down -6/32 (FNMA 30-yr 4.5 at 100.14). As a result pricing (closing costs) associated with any given rate rose, but not noticeably.
No surprise from the Fed today. They made no change to the Fed funds rate and their statements had little to no impact on markets.
Current 30-year fixed mortgage rates are stable at 4.875%. Current 15-year fixed mortgage rates remain at 4.25, and the current 5/1 ARM rate is 3.625. Across the board mortgage rates are unchanged today.
The current FHA 30-year fixed rate remains at 4.75, with a higher APR than that of a conforming mortgage because of MI and other FHA fees.
Current jumbo mortgage rates refuse to budge with the 30 year fixed jumbo rate holding at 5.625%.
The benchmark 10-year treasury yield, used to forecast mortgage rates by many, remains well below it’s year high of 4.01 set on April 5th.
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