Mortgage Interest Rates October 3 – 15 Year Fixed Down Today
Posted on | October 3, 2009 | No Comments
Mortgage interest rates for September 3rd, 2009 were little changed. The 30 year fixed rate mortgage was up to 4.86% while the 15 year fixed was down to 4.31%. The 5/1 ARM is up slightly to 3.73%. It is likely to be the case that mortgage interest rates are quiet this weekend as weekends in the fall are devoted to College and Professional football or just getting away from the office.
With Wall Street and all treasury markets closed there are very few things that can affect mortgage rates on the weekend. This does not mean that there will be absolutely no movement but the movements will be slight and with no conviction. That will be a great change from this week as there were days in which mortgage rates moved as much as .2% in a single day.
Look for mortgage rates to be volatile for much of October as there are a few factors that will affect mortgage rates. The fact that the first time home buyers tax credit is getting close to expiration as well as the Federal Reserve Bank concluding their purchases of US Treasuries. Both of these factors are bad things for the housing market and could help to push mortgage rates higher.
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: Jesse Wojdylo
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