30 year fixed mortgage rates are back down following several days of rising MBS prices. Yesterday's stock market sell off aided mortgage rates, pushing the conforming 30 year fixed rate to 4.75% at par, according to FreeRateUpdate.com. 15 year fixed mortgage rates are as low as 4.25% at par. 5/1 ARM rates are as low as 3.75%.
FHA mortgage rates are also low. The FHA 30 year fixed has dipped from over 5% in recent weeks to 4.75% at par. FHA 30 year fixed mortgage rates currently mirror conforming 30 year fixed rates. The FHA 15 year fixed rate and 5/1 ARM rate vary from bank to bank and are slightly higher than conforming mortgage rates.
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