4.25% 30 Year Fixed Rate
Loan Type
Type for Home
Credit 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 February

One week into the month of February mortgage rates remained steady across the mortgage market, with the benchmark 30-year fixed mortgage interest rate holding at 4.875%.

As the housing industry looks for a way out of the difficulties of recent years, interest rate stability can be seen to denote at least a continuing absence of panic over the formidable backlog of unsold homes—and Washington’s perceived course in determining new policies impacting the housing and finance industries.

Meanwhile, 15-year fixed mortgage interest rates are at 4.250% and those of 5/1 ARM loans are at 3.250%. Borrowers with good credit continue to be able to benefit from these 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 a mortgage.

And in the most recent auction of 10-year Treasuries there was strong interest on the buy side despite continuing talk in international finance circles of perhaps displacing the dollar as the world’s main reserve currency. Assertions by Federal Reserve Chairman Ben Bernanke that inflation remains under control perhaps helped the dollar.

FHA 30-year fixed mortgage rates are presently at 4.625% while those of FHA 15-year fixed rate mortgages are 4.000 % . Rates for FHA 5/1 ARM loans are at 3.500 %. FHA mortgages require lower down payments making them particularly sought after by many buyers. Higher closing costs due to FHA fees as well as an upfront mortgage insurance premium mitigate this built in advantage, however.

30-year fixed jumbo mortgage interest rates currently are at 5.500%, while 15-year fixed jumbo mortgage interest rates go for 5.000% and jumbo 5/1 ARM loan rates come in at 4.125%. These represent the best jumbo mortgage rates extended on 0.7% to 1% origination fee to borrowers with the best credit.

Wells Fargo California rates for 30-year fixed mortgages are 5.250% (5.444% APR). Mortgage Backed Securities (MBS) prices have increased +12/32 (FNMA 30-year 4.5 at 100.11). Prices on the MBS market influence mortgage rates which trend in the opposite direction.