Economic Insights

Today's Mortgage Rates are Historically Low. Today's 30 Year Fixed Mortgage Rate is Nearing 4.75 Percent.

By: Heath Lefort September 1st, 2009: 2:47 PM PST

The benchmark 10 year treasury yield, the leading indicator for today's mortgage rates, continued it's descent today closing at 3.38 down (0.76 %) overall. Today's close marks the yield's lowest level in nearly 2 months. The increase in treasury prices, driving bond yields and today's mortgage rates which move it's opposite down, is credited to investors moving toward the safety of bonds over concerns the stock market rose too quickly on initial signs of U.S. economic recovery. The move to the safety of bonds comes even as manufacturing and home sales data released today supports a current economic recovery.

Today's Mortgage Rates:

Today's mortgage rates research of wholesale lender's shows 30 year fixed mortgage rates as low as 4.875 percent available with zero buy down points. Today's 15 year fixed mortgage rates are available as low as 4.375 percent with zero buy down. Today's 5/1 ARM mortgage rates are available as low as 4.125 percent with zero buy down. Mortgage rates with zero buy down points are also known as par rates. Regular points and fees do apply.

Today's Mortgage Rates Forecast:

Today's mortgage rates forecast is for low rates through the holidays. For the past 2 years mortgage rates have hit their lows over the holiday season. This year may follow the trend according to analyst's most recent forecast. Analysts now predict the 10 year treasury yield, which drives mortgage rates, will descend to 3 flat. Just weeks ago analysts predicted the same yield would rise possibly to 4 by the end of the year and as a result cause a spike in mortgage rates.