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: Moving Somewhat Lower

As February moves into its final full week interest rates generally tracked lower, although the benchmark 30-year fixed mortgage interest rate remained steady at 4.750%.

The 15-year fixed mortgage interest rate was at 4.000%, a decrease of .125%, while 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 are popular among borrowers as they offer set mortgage payments each month for the life of the mortgage.

FHA 30-year fixed mortgage rates lost .125% to settle at 4.500%, and FHA 15-year fixed rate mortgages stayed 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.

30-year jumbo mortgage interest rates faded .125% to 5.375%, while 15-year jumbo mortgage interest rates were steady at 5.250%. Jumbo 5/1 ARM loan rates lowered to 3.875%. The rates represent the best jumbo mortgage rates extended on 0.7% to 1% origination fee to borrowers with good credit.

The day’s Wells Fargo California rate for 30-year fixed mortgages dropped to 5.000% (5.191% APR). Mortgage Backed Securities (MBS) prices were up +12/32 (FNMA 30-year 4.5 at 101.18).

Prices on the MBS market influence mortgage rates which trend in the opposite direction.

Amidst the continued bad news coming out of the important Middle East region, investors are seen to be moving out of the stock market into the relative safety of bonds. As events quicken in oil rich Libya and the regime of strongman Muammar Gaddafi battles for continued control, international oil firms have issued evacuation orders for some foreign staff—raising questions about future petroleum export levels.