The Mood Of Today's Mortgage Rates

While the current mortgage rates are still at historic low levels the mood about the rates going up or coming down changes daily. We conducted a little research online trying to catch the mood of today's mortgage rates, if it can be put that way. The mood is positive, most opinions involved in this light study show downward trend.

Today's mortgage rates are nationally lower than last week. According to Bankrate.com the 30 year-fixed rate is 5.21 percent. It was 5.27 percent last week. The 15 year fixed rate currently is 4.68, which is down from 4.72 last week. The rate on 5 year ARM is 4.37, down from 4.57 of last week.

The rates will of course differ from one another based on your location. However, the downtrend from last week is apparent.

Last week we saw that the bond yields pushed the mortgage rates down slightly. Today Mortgagereports tweets that mortgage markets open flat, with an upside bias. "Today's rate should move on non-data factors. General risk aversion will be good for rates."

So far September mortgage rates have stayed under 5 percent. It is possibly that the current rates will stay in that range as we continue to observe the 10 year treasury rate yield remaining in a down trend. It is Fed's buying of mortgage backed securities with the treasury rates that has kept the current mortgage rates near historic low levels in the past months.

Today's Wells Fargo mortgage rates are down from last week's numbers as well.

For example the 30-year fixed rate at Wells Fargo is 5.12, but the 30-year fixed FHA rate is 5.5. The 15-year fixed rate at Wells Fargo is still under 5 percent at 4.62. The APR of this rate is 4.95.

Wells Fargo rates are slightly higher for larger loan amounts. They are available only in eligible areas. However, in federally designated metropolitan areas, qualified customers may be able to borrow up to $729,750 on conforming1 or FHA loans without paying the typical higher interest rates on jumbo loan amounts.

Written by Armen Hareyan

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