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VA Home Loan Mortgage Rates October 29 – Current Rates Still Low

Posted on | October 29, 2009 | No Comments

VA home loan mortgage rates for October 29th, 2009 remain very low.  The conventional 30 year fixed rate mortgage is at 4.84% while the 15 year fixed is at 4.31%.  The 5/1 ARM is around 3.71%.  VA home loan mortgage rates are generally .5% to 1% lower than conventional mortgage rates so you can see that, across the board, VA loan rates are very low.

The 10 year treasury rate yield bounced off its 50 day moving average today for the first time.  It will be interesting to see if this continues and the 50 dma starts trending higher.  If this does happen we can expect to see the 10 year yield start to make its way towards the summer high of 4% which would mean mortgage rates would get up to 5.5% or higher.

The 10 year yield moving higher is not a good sign for mortgage interest rates but that does not mean that mortgage rates are going to move drastically higher.  The Federal Reserve Bank is going to continue to buy mortgage backed securities through March of 2010 which will go a long way to keep mortgage rates in check.  It is also likely that they will take other measures to keep mortgage rates attractive.

Make sure to check out Subprime Blogger on a daily basis for your VA home loan rates. We will display the current VA home loan rates as well as a short commentary similar to the above column. Bookmark the following VA Loan category to gain easier access to our daily VA loan rates column.

VA Loan

Author: Jeremy North

Category: VA Loan

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