30 Year Fixed Mortgage Rates Rise to 4.875%

Conforming and FHA 30 year fixed mortgage rates rose last week, according to FreeRateUpdate.com. 30 year fixed rates had been at 4.75% for quite some time. The jumbo 30 year fixed rate remains 5.75%, though lower rates are available for extremely low LTV's.

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Mortgage Rates Steady Ahead of Bernanke Fed Text Announcement

Mortgage rates are holding steady ahead of an announcement by Fed chief Bernanke which will give some details of their exit strategy. Bernanke will outline broadly how and when they will raise interest rates as well as tighten credit. The Fed will also talk about their exit from the MBS market. They've been purchasing MBS keeping mortgage rates low and credit available. FHA and Conforming 30 year fixed mortgage rates are just above all time record lows at 4.75%. The Fed announcement will come in form of a text due to the snow in D.C.

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Mortgage Rates at Risk

Mortgage rates for Fannie Mae and Freddie Mac backed products, conforming loans, are at risk to go up following this morning's significant decline in mortgage backed securities prices which drive mortgage rates in the opposite direction. 30 year fixed mortgage rates for Fannie and Freddie backed conforming loans opened the day at 4.75%. FHA 30 year fixed rates also opened at 4.75%.

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FHA Mortgage Rate @ 4.75% - FreeRateUpdate.com

30 year fixed FHA mortgage rates are at 4.75%, according to FreeRateUpdate.com research of wholesale mortgage lender's rate sheets. Despite much in the media about rising mortgage rates, fact is FHA rates which account for 33% of all new mortgages used to buy homes, are just a 1/4 off all time record lows set back in late October. The FHA 5/1 ARM is at 3.75%. FHA 15 year fixed mortgage rates are at 4.25%.

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California Mortgage Rates Excellent - Jumbo 30 Year Fixed at 5.75%

California mortgage rates are near all time record lows. California 30 year fixed mortgage rates are at 4/75%. The CA 15 year fixed rate is 4.25%. Mortgage rates have been steadily improving since a sharp rise off record lows. Back in October of last year the 30 year fixed rate bottomed out at an amazing 4.5%.

California true jumbo mortgage rates are also excellent. Wells Fargo offers a jumbo 30 year fixed at 5.75%.

California FHA loan rates are very good. The California FHA 5/1 ARM rate is at 3.75%.

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Conforming 30 Year Fixed Mortgage Rates Open the Week Below 5%

Conforming 30 year fixed mortgage rates open this week below 5%. Last week we saw prices mortgage backed securities rise driving mortgage rates which move in the opposite direction down. Friday's report on inflation showed no immediate risk, good news for mortgage bonds. While the conforming 30 year fixed rate is 4.875% at par, the FHA 30 year fixed mortgage rate is even lower, 4.75%.

Mortgage Backed Securities are Up and Down, Mortgage Rates are Shaky

30 year fixed mortgage rates have been bouncing around the last couple days first dipping from 5.125% to 4.875%, back to 5% and now down again below 5%. Why? Mortgage backed securities prices have been on a bit of a roller coaster ride the past week. The crystal clear stabilization of the economy is becoming a bit cloudy and volatility has crept into the secondary mortgage market. Today's 30 year fixed mortgage rate is 4.875%. Today's FHA 30 year fixed rate is 4.75%. With volatility in the market and mortgage rates forecasts predicting higher mortgage rates now may be a good time to lock.

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