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California mortgage rates low - tough times ahead for CA mortgage professionals?

Current mortgage rates are low and steady with 30 year fixed rates holding at 4.75. 15 year fixed rates remain 4.25 and 5/1 ARM rates remain 3.625. These rates are all according to, a rate research website. Rates are verified available to well-qualified consumers willing to pay a standard origination fee.

FHA mortgage rates remain the same as conforming except for the 15 year fixed, which is higher at 4.5%. FHA loan guidelines will be changing on April 5th. Among the changes taking place is MI being boosted to 2.25% of the loan amount. says jumbo mortgage rates are holding at 5.625, fixed for 30 years.

According to Mark Simons, a loan Officer for First Capital Alliance a direct Lender based in Walnut Creek, CA, who maintains a popular California mortgage blog, mortgage rates may spike when the Fed stops buying mortgage-backed securities later this month.

High rates could mean tough times for CA mortgage professionals. Also, some states are cracking down on net branching. California likely will be one of them sooner than later. It may be time for CA net branch managers to search out a mortgage net branch alternative. If nothing else it might be time to move from those archaic trigger leads to quality internet mortgage leads. Brace yourself for tough times ahead.


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