4.25% 30-Yr Fixed Mortgage Rate Available to Well-Qualified Consumers
A $250,000 30-year fixed mortgage at an interest rate of 4.25% has a monthly principal and interest payment of just $1,229.85 per month.
FHA mortgage rates today are nearly identical to those of conforming mortgages. Today's FHA 30-yr fixed rate is also 4.25%. That being said, MI and other FHA fees make the APR (closing costs) higher on an FHA loan, even with the same note rate.
Today's jumbo 30-yr fixed rate remains at 5.25%. Jumbo mortgage rates are also at a record low.
Wells Fargo is advertising a conventional 30-yr fixed-rate of 4.625% today, with an APR of 4.812%. (source: Wells Fargo Website)
Mortgage-backed securities prices, which drive mortgage rates in the opposite direction, were up significantly yesterday, helping to stabilize mortgage interest rates at their current record low. It's possible we could see even lower rates as the week goes on.
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