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Mortgage Interest Rates November 29 – Rates Still Dropping to New Lows

Posted on | November 29, 2009 | No Comments

Mortgage interest rates for November 29th, 2009 continue to drop to new all time lows.  The current 30 year fixed mortgage rate is at 4.53% while the 15 year fixed mortgage rate is at 4.13%.  The 5/1 ARM is actually going against the trend and is up to 3.76%.  This weekend we have seen the 30 year fixed mortgage rate as low as 4.49% which is well below all time lows.

The breakdown of the 10 year treasury rate yield has gone a long way to help mortgage interest rates drop to all time lows.  The average weekly all time low for the 30 year fixed mortgage rate is 4.61%.  That mark should be broken with last weeks results or this weeks results.  The strong correlation between the 10 year yield and the 30 year fixed continues as both are heading much lower.

Refinancing or getting your first mortgage is a very smart thing to do at the present time.  With mortgage interest rates at all time lows you could end up saving hundreds of dollars a month by locking into an extremely low mortgage interest rate.  Many home owners were planning to wait until 2010 but it might be worth it to get ahead of the crowd and apply for that mortgage today.

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: Jesse Wojdylo

Category: daily mortgage rates

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