Two weeks ago California mortgage rates hit a new all time record low of 4.5% on a 30 year fixed mortgage. Today’s California mortgage rates are a little higher than that record low. During the past 2 weeks there has been a slow but steady increase in mortgage rates.
Rise in Mortgage Backed Securities
As positive economic data has flooded the news wire during the past 2 weeks there has been a rise in the prices of Mortgage Backed Securities by which the mortgage rates are driven in the opposite direction.
Rise in 10 year treasury yield
As the economy stabilizes the investors take their money out of bonds and put it in the stock market.
Today’s California Mortgage Rates
California interest rates have raised up from record lows but holding at present levels. Today California’s 30 year fixed rate is 4.75% at par, which has raised up from a record low of 4.5%. Today California’s 15 year fixed rate is 4.25%, which has raised up from 4.125% last week. Today California’s 5/1 ARM rate is 3.75%
California Jumbo and FHA Mortgage Rates
Today California’s jumbo 30 year fixed mortgage rate is 5.875%, raised up from 5.75% last week. California FHA mortgage rates are hovering near record lows. Today’s California FHA mortgage rates are as low as 4.875% for 30 years fixed mortgage, raised up from 4.5% 2 weeks ago.
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