Daily Mortgage News

Wow rates down to 2%... thats right 2%! It the governments new 5 year arm. The borrower refinancing under the new program would be offered a rate as low as 2% for 5 years and after that the rate can be brought up gradually up to what the conforming loan rates were at the time the modification which is an average of about 5%. This is part of the Homeowner Affordability and Stability Plan.

Daily Mortgage Rates

Conventional 30 Yr. Fixed Rate: 5.375%

FHA 30 Yr. Fixed Rate: 5.50%

100% (USDA) 30 Yr. Fixed Rate: 5.75%