As the economy continues to recover at a slow pace, low mortgage rates are still lingering on which should be a relief to borrowers.’s daily survey of wholesale and direct lenders’ rate sheets has shown conforming 30 year fixed mortgage rates ranging from 4.5% to 4.625% this week for well-qualified consumers who pay a standard .07 to 1 point origination. 15 year fixed mortgage rates remain at 4.000%. These two popular products are still below 5% and pricing levels from a year ago.

FHA mortgage rates have been experiencing the same up and down cycle and have been consistently lower than their conventional counterparts. The most popular FHA loans have also remained below 5% with FHA 30 year fixed mortgage rates at 4.500% and FHA 15 year fixed mortgage rates at 4.000%, both good news for FHA borrowers.

Jumbo mortgage rates also went down last week .125% but, unlike the rest, have remained there. Current 30 year jumbo mortgage rates are at 5.125%, 15 year jumbo mortgage rates are at 4.750% and jumbo 5/1 ARM at 3.875%. These continue to be great rates for high end borrowers.

This past week was an example of the volatility still hanging around mortgage rates. Last Thursday, several reports were released which showed mixed data, both good and not so good. While the Fed’s reported that the economy was improving and manufacturing, retail and service industries appeared stronger, unemployment rose. Although this news regarding unemployment was not favorable, it gave way to better pricing for mortgage rates. On Friday, conforming mortgage rates decreased .125%. FHA mortgage rates and jumbo mortgage rates followed suit and also came down ending the week on a positive note for FHA borrowers.

After the long holiday weekend, mortgage rates climbed again to their previous levels and remain there today. Overall a quiet week, yesterday’s report showed that builder confidence is down and housing starts were below expectations while at the same time building permits were up. This mix of data continues to affect mortgage rates causing them to go up slightly and then, at some point, go down.

Edward J. Ferrara III

CONTACT: Edward J. Ferrara III, +1-714-694-5914,

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