Mortgage Interest Rates September 19 – Rates Bounce Higher
Posted on | September 19, 2009 | No Comments
Mortgage interest rates for September 19th, 2009 have seen a bounce higher. The 30 year fixed mortgage rate ended up below 5% yesterday but is no exactly set on the 5% make. The 15 year fixed rate mortgage is up to 4.47% while the 5/1 ARM increased to 4.12%. These are the numbers very early on Saturday morning so they are likely to change throughout the day. The 5% mark is likely to hold as a resistance level and we could see rates head a little lower later on in the day.
Very little has changed in the mortgage rates arena over the last few days. There has been a great interest in the low levels we are currently at. Yahoo! actually showed “mortgage rates” as the number 8 financial search on the Internet yesterday. This usually does not happen until late December and January when home owners are looking to refinance. If mortgage interest rates drop even more we are likely to see great interest from the American public.
The 10 year treasury rate yield is at 4.47% which leaves a little bit of upside potential because the 50 day moving average is at 3.53%. It is quite possible that we see the yield move to the resistance level of the 50 dma and then a sharp move back down. This move downward is likely to help mortgage interest rates drop even more. Only time will tell but next week should be a fun time to keep track of mortgage rates.
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: Jeremy North
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