Mortgage Interest Rates September 23 – Current Rates Stable
Posted on | September 23, 2009 | No Comments
Mortgage interest rates for September 23rd, 2009 remain relatively stable. The 30 year fixed mortgage rates are at 5.02% while 15 year mortgage rates are at 4.34%. The 5/1 ARM is down to 3.76%. Both the 15 year fixed and the 5/1 ARM are down from yesterday but the 30 year fixed has changed very little this entire week. Even after a volatile day by the 10 year treasury rate yield there is little changed in the benchmark 30 year fixed.
The 10 year treasury rate yield saw a bounce at noon yesterday but started a strong decline at 1:00 pm. With the Federal Reserve Bank deciding to keep overnight rates at basically zero this is causing the yield to decline. The Federal Reserve Bank has stated that they are going to ease the purchases of US Treasuries by the end of October. The amount of money they are sinking into treasuries should start to decline this week all the way through October.
With less money going into Treasuries we have to hope that foreign investors are willing to put a great amount of money into US debt. If foreign investors do not increase investments in treasuries we are likely to see an increase in treasury yields which in turn will increase mortgage rates. We can only wait to see what the foreign investors are going to do; especially China and Japan.
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: Tiffany Mann
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