Mortgage Rates Near 4.5% 30-Years Fixed

Today prices of Residential Mortgage Backed Securities improved. Mortgage rates, which move opposite RMBS, have been stuck at 4.625% for a few days now. If there's much of an improvement at all in the mortgage rate market 30 year fixed rates will dip to the magical 4.5%. The benchmark 10 year T-yield, which is used to forecast 30 year fixed mortgage rates, is at 3.32 which is low but not nearly a record low which mortgage rates could surely touch. FHA mortgage rates are near record lows with a handful of lenders offering 4.75% 30 year fixed FHA mortgages. Wells Fargo currently advertises a 4.875% FHA 30 year fixed.