Today’s Mortgage Rates – 30-Yr Fixed Mortgage Rate at 4.75 – FHA Mortgage Rates Reviewed
Ed Ferrara | November 11, 2009 | 0 Comments
Today's mortgage rates are virtually unchanged as Residential Mortgage Backed Securities markets are closed in observance of Veteran's Day. RMBS, of which mortgage rates move opposite, are up on the week overall. The 10 year treasury yield, a leading indicator for conforming mortgage rates, is down -0.0080 (-0.23%) and at 3.47 as of 1:47 PM PST. The yield was under 3.2 percent about a month ago when conforming 30 year fixed mortgage rates approached 4.5 percent.
Zillow says the national average 30 year fixed mortgage rate is 4.82 percent as of 1:48 PM PST.

Today's Mortgage Rates: Conforming 30, 20 and 15-Year Fixed. 5/1 ARM.
FreeRateUpdate.com research of wholesale mortgage lender's conforming mortgage rates today shows no change from yesterday. The mortgage rate market doesn't move much on Veteran's Day as the RMBS markets are closed. Today's 30 year fixed mortgage rate is 4.75 percent. Today's 20 year fixed mortgage rate is 4.625 percent. Today's 15 year fixed mortgage rate is 4.25 percent. Today's 5/1 ARM rate is 3.5 percent. Today's mortgage rates are at "par". Par rates are the lowest available interest rates and DO NOT require additional points and fees, also known as a buy down or discount points, to be paid by the borrower

Are these so called foreclosure facts true?

"One out of five U.S. mortgage holders is now underwater, according to First American CoreLogic's latest review of 45 million mortgages in its database." Really? I find that hard to believe. I am a Realtor and in my area its not true. The average home is an midage brick ranch that's been owned for some time and is worth more than owned on it. If you drive the streets do you see every 5th home or every 10th home for sale as a probable foreclosure? No you do not. I have checked our MLS and I see maybe 1 in 25-50 showing as foreclosure sale. I realized we are better off than some areas but to say across this grand country, every 5th house is worth less than owned is the sky is falling talk. It simply may not be true and anyone can make any statistics say what they want. Bad news sell but if not correct is detrimental to the economy. How about a little good news once in a while?