Current Mortgage Rates: Mortgage Rates Currently Improving as Fed Begins Bond Auctions Today.

August 11, 3:54 PMLA Mortgage Industry ExaminerEd Ferrara

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Current Mortgage Rates: Improving Today

As the fed began bond auctions today benchmark 10 year treasury yields improved again moving to 3.69 after opening the day at 3.723.  Treasuries continue to drive mortgage rates for conforming, conforming jumbo, and FHA loans.

After sinking last week bond prices are attractive to investors. The yields which drive rates move opposite bond prices. As bond auctions produce high demand prices go up in turn driving yields and mortgage rates down.

Mortgage rates today are being offered as low as 5.125% for a 30 year fixed and 15 year fixed as low as 4.5%. That's a slight improvement from where they started the week. This information is from FreeRateUpdate.com's research of wholesale mortgage lenders rate sheets.

Jumbo mortgage rates continue to be quite higher than conforming rates and vary greatly from bank to bank.

Other notes: My research into mortgage net branch programs still determines the best is Supreme Lending. FreeRateUpdate.com now offers a free mortgage rate widget so if you have a website you can display mortgage rates free to your visitors.