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Mortgage Interest Rates November 4 – Mortgage Rates Jump Much Higher

Posted on | November 4, 2009 | No Comments

Mortgage interest rates for November 4th, 2009 have seen a huge jump early.  The 30 year fixed mortgage rate is up to 4.99% while the 15 year fixed is up to 4.38%.  The 5/1 ARM is also up drastically to 3.97%.  It is still very early in the trading day, prior to 8:00 am eastern, so there is still a long way to go but are mortgage interest rates finally reacting to the up trend of the 10 year treasury rate yield?

The 10 year yield saw a bounce off the 50 day moving average yesterday and was up almost 1.5%.  The 50 dma has help as support this entire week and if it starts to head higher then we can expect the 10 year yield to go into full bull mode and head much higher.  This summer we saw the yield at 4% and there is a strong possibility of that again.

WIth yields that high you can expect mortgage interest rates to move up to 5.5% or higher.  The high for the year of 2009 took place back in June when the 30 year fixed rate mortgage got all the way up to 5.59%. Will this happen again in November?  Only time will tell but it looks the the possibilities are increasing.

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:

Daily Mortgage Rates Column

Author: Alan Lake

Category: daily mortgage rates

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