Mortgage Interest Rates September 22 – Rates Up Today
Posted on | September 22, 2009 | No Comments
Mortgage interest rates for September 22nd began the day up. The 30 year fixed rate mortgage is at 5.01% while the 15 year fixed is at 4.52%. The 5/1 ARM is up to 3.94%. Early on we are seeing overall rates move slightly higher. The 10 year treasury rate yield has been stable for the last few days but could get a little bit of a boost from the purchases that the Federal Reserve Bank made yesterday.
Little has changed since yesterday when it comes to mortgage interest rates. It will be interesting to see how the 10 year treasury rate yield acts today as it got a boost yesterday when the Fed announced the purchases of US Treasuries. What will be interesting to see is how traders feel about the Fed easing off when it comes to treasury purchases. It makes logical sense that the 10 year yield would increase because there would be much less money flowing into treasuries.
Unless we see a huge swarm of foreign investors by the end of October, when the Fed plans to stop buying treasuries, it is likely that we are going to see a short term rally in treasury yields. This short term rally might turn into something much longer if the Fed does not watch out. If this is the case, mortgage interest rates are sure to move higher with treasury yields. With all this being said, lets see what the Fed does first.
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: Heather Best
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