4.25% 30 Year Fixed Rate
Loan Amount
Loan Type

Program Rate APR
30-Yr fixed 4.750 % 0.7 to 1
15-Yr fixed 3.750 % 0.7 to 1
5/1 ARM 3.125 % 0.7 to 1
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Mortgage Rates: Steady Into The Weekend

As February’s third week came to a close interest rates mirrored those of the previous day’s markets, with the benchmark 30-year fixed mortgage interest rate holding at 4.750%.

Once again, the 15-year fixed mortgage interest rate was at 4.125% and that of the 5/1 ARM loan remained at 3.250%. Borrowers with good credit continue to be able to benefit from historically low interest rates with 0.7% to 1% origination point. Conforming fixed rate mortgages remain popular among borrowers as they offer set mortgage payments each month during the life of the mortgage.

FHA 30-year fixed mortgage rates were at 4.625% and FHA 15-year fixed rate mortgages remained at 4.000 %. Rates for FHA 5/1 ARM loans held at 3.625 %. FHA mortgages require lower down payments, making them particularly sought after by buyers. Higher closing costs due to FHA fees as well as an upfront mortgage insurance premium do mitigate this built-in advantage, however.

The day’s 30-year jumbo mortgage interest rates remained at 5.500%, while 15-year jumbo mortgage interest rates were steady at 5.250%. Jumbo 5/1 ARM loan rates remained at 4.125%. The rates represent the best jumbo mortgage rates extended on 0.7% to 1% origination fee to borrowers with good credit.

Wells Fargo California’s rate for 30-year fixed mortgages was unchanged at 5.125% (5.318% APR). Providing the only real movement of the trading day, Mortgage Backed Securities (MBS) prices were up +8/32 (FNMA 30-year 4.5 at 101.03).

Prices on the MBS market influence mortgage rates which trend in the opposite direction. Rate movements for the day has been attributed to the release of several sets of numbers including the Producer Price Index, which rose higher than expected. A reported increase in housing starts for January also influenced the market. Overall confidence among investors, moreover, is thought to be mirrored by recent rises in the stock market.