Daily Update: Mortgage Rates Continue Slightly Lower Despite Market Volatility

Average Mortgage Rates
30 Yr FRM 3.54 3.57 -0.03%
15 Yr FRM 2.87 2.90 -0.03%
FHA 30 Year 3.46 3.50 -0.04%
Jumbo 30 Year 4.10 4.14 -0.04%
5/1 Yr ARM 2.98 2.96 0.02%

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Updated: 9/14/12 2:54 PM
Sep 14, 2012 2:57PM

Mortgage Rates Continue Slightly Lower Despite Market Volatility

Mortgage rates moved slightly lower today after falling significantly on the Fed's policy announcement yesterday. The drop in rates today is somewhat paradoxical in that the securities in the secondary mortgage market actually moved higher in yield . That almost always coincides with higher mortgage rates offered by lenders, but today rates fell further, ultimately getting close to the All-Time Lows seen on July 23rd. Best-execution for 30yr Fixed Conventional Loans is now questionable at 3.5% and...

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