Mortgage Interest Rates September 25 – 30 Year 4.97% Today
Posted on | September 25, 2009 | 1 Comment
Mortgage interest rates for September 25th, 2009 remain under 5%. The 30 year fixed mortgage rate is currently at 4.97% while the 15 year fixed rate is at 4.38%. The 5/1 ARM is up to 3.89%. The expected movements after the Federal Reserve meeting have not happened the way we thought they would. There has been extremely volatility but it seems that the 30 year fixed mortgage rate continues to use 5% as a level of resistance.
After the Fed mentioned that they were going to stop buying US Treasuries and spread out the amount of money to buy mortgage backed securities several analysts felt that mortgage rates were going to move up albeit slowly. Since the meeting mortgage rates have moved up briefly but seem to drop anytime there is up ward movement. It will be interesting to see if this continues to be the case through the month of October.
When the 10 year yield starts to increase it is going to test mortgage rates. Over the summer, as the 10 year yield was up trending, it pushed mortgage rates as high as 5.59% and held the 30 year fixed rate above 5%. It took this up trend to roll over before we saw mortgage interest rates drop below 5%. If we see another up trend in treasury yields you can expect the same thing to happen.
Make sure to check out Subprime Blogger on a daily basis for your mortgage interest rates. We will display the current rates as well as a short commentary similar to the above column. Bookmark the following daily mortgage rates category to gain easier access to our mortgage interest rates column:
Author: Heather Best
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September 25th, 2009 @ 8:56 am
[...] soon end its Treasury buying program, mortgage rates have not been able to sustain a steady rise. Subprime Blogger reports on this development: After the Fed mentioned that they were going to stop buying US Treasuries and spread out the [...]