Mortgage Interest Rates Flat Today- Current Mortgage Interest Rates at 5.04 - Freddie.

By: Ed Ferrara. FreeRateUpdate.com LLC Contributing Writer. September 17th, 2009: 12:45 PM PST
Mortgage interest rates are flat today. The benchmark 10 year treasury yield, used to forecast mortgage interest rates, decreased to 3.4 percent on housing and job data that signals slight recovery. Freddie Mac released their weekly conforming 30 year fixed average mortgage interest rate report today. Freddie says Monday through Wednesday of this week 30 year fixed mortgage interest rates averaged 5.04 percent, down from 5.07 percent last week. Today's report from Freddie shows mortgage interest rates are continuing their week over week descent.

A 30 year fixed mortgage with a balance of $250,000 at an interest rate of 4.875 percent has a monthly principal and interest payment of $1,323.02, comparable to the rent of a 2 bed room apartment in most areas. This payment does not account for taxes and insurance. The interest portion of a mortgage payment is however tax deductible