Mortgage Interest Rates September 18 – 15 Year Fixed Down
Posted on | September 18, 2009 | No Comments
Mortgage interest rates for September 18th, 2009 were mixed early. The 30 year fixed rate mortgage was up to 5.04% while the 15 year fixed was down to 4.32. The 15 year fixed is getting very close to an all time low and is currently at its lowest levels since 1991. The 5/1 ARM rates dropped to 3.87%. These mortgage interest rates are likely to fluctuate throughout the weekend so check back in with Subprime Blogger to stay updated.
The 30 year fixed mortgage continues to stick to the 5% while the 15 year drops to new record lows. If we continue to see the Federal Reserve bank invest over one trillion in mortgage backed securities it is likely that mortgage interest rates are going to continue to move lower. The all time low of 4.78% on the 30 year fixed might not be broken but we could see mortgage rates get eerily close to this level.
Mortgage application data will be very interesting next week as there is likely to be an increase in refinance applications. We are getting very close to the cut off for new home buyers to complete the mortgage process by November 30th to receive the $8000 tax credit. There is likely to be an increase in new home applications as well due to this. If you want to receive this tax credit you will need to get on the ball immediately.
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:
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