Mortgage Interest Rates September 21 – Important Week Ahead
Posted on | September 21, 2009 | No Comments
Mortgage interest rates for September 21st, 2009 are little changed early on Monday. The 30 year fixed rate mortgage is at 4.98% while the 15 year fixed rate is at 4.34%. The 5/1 ARM is down early on to 3.87%. This is a very important week for mortgage interest rates because it could decide if we head lower towards all time lows or if we continue to stabilize around 5% on the 30 year fixed.
The movement of the 10 year treasury rate yield could go a long way into deciding where mortgage rates are going. The overhead resistance of the 50 day moving average is lurking just above the current levels. If the 50 dma does hold as a resistance level we could see another decline the 10 year yield by the end of the week. If this is the case we are going to see mortgage rates push towards all time lows.
There is also the possibility that the 10 year yield could stablize where it is at and slowly work its way above the 50 dma. This would be likely to happen due to the anticipation of the Federal Reserve Bank stopping the purchases of US Treasuries. The Fed has made it clear that they would like to stop buying treasuries by the end of October. This might give the 10 year yield a little bit of a boost early on. Only time will tell.
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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