The benchmark 10 year treasury bond yield, the leading indicator for current mortgage rates, opened the day up slightly. As a result mortgage lenders adjusted current 30 year fixed mortgage rates upward to 5 percent from 4.875%.
Throughout the course of the day the yield descended closing at virtually the same point as yesterday. Most likely west coast lenders will either adjust rates back down to 4.875% this afternoon or Monday morning.
Pricing on FHA loans is a tad better than conforming mortgages. An FHA 30 year fixed mortgage can be obtained as low as 5 percent currently with slightly less origination charged.
Throughout the course of the day the yield descended closing at virtually the same point as yesterday. Most likely west coast lenders will either adjust rates back down to 4.875% this afternoon or Monday morning.
Pricing on FHA loans is a tad better than conforming mortgages. An FHA 30 year fixed mortgage can be obtained as low as 5 percent currently with slightly less origination charged.
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