The 30 year fixed rate mortgage dipped a bit, so I thought I would post a quick update. Since the announcement of Operation Twist many thought we would see the rates drop down, instead they have been bouncing around 4% to 4.25%. On October 6 the rate was 3.94% and last week it was 4% according to Freddie’s Primary Mortgage Market Survey.
Below is a chart of the 10 Year Treasury, which the 30 Year Fixed Rate Mortgages tend to follow even though they are not directly tied to each other. You can see the Point “A” is the date that Operation Twist was announced. (this graph is interactive)
It is difficult to guess where the 10 year treasury might go, it looks like it may just be bouncing there and doesn’t seem like there will be a big drop or increase on the horizon. Predicting where the rates might go is something best left up for you to decide. The 10 Year Treasury is a good benchmark to watch.
[wikichart align=”right” ticker=”TNX” showannotations=”true” livequote=”true” startdate=”10-05-2011″ enddate=”10-11-2011″ width=”300″ height=”245″]
Today’s Edina Realty Mortgage Rates are:
Today’s Mortgage Rates
The current interest rates shown below are based on a purchase of a single-family, primary residence. For current refinance rates, contact us
as of 11/10/2011 09:16 AM Central
Product Interest Rate APR Conforming1 and FHA1 Loans 30-Year Fixed 4.125% 4.308% 30-Year Fixed FHA 3.750% 4.550% 15-Year Fixed 3.250% 3.566% 7-Year ARM 2.875% 3.248% 5-Year ARM FHA 2.750% 2.908% Jumbo1 Loans – Amounts that exceed conforming loan limits1 30-Year Fixed 4.250% 4.392%
- 30-year mortgage rate ticks lower (marketwatch.com)
- HSH.com Weekly Mortgage Rate Radar: Euro Troubles Press Mortgage Rates Toward Record Lows Again (prweb.com)
- Mortgage rates in decline (csmonitor.com)
- Mortgage rates update (craigkamman.com)