Mortgage Interest Rates September 26 – 30 Year Under 5%
Posted on | September 26, 2009 | No Comments
Mortgage interest rates for September 26th, 2009 remained low. The 30 year fixed mortgage rates continues to stay under 5% at 4.99% while the 15 year fixed mortgage rate is at 4.42%. The 5/1 ARM is up to 3.93%. These movements are very slight and we can expect very little change this weekend as it is the month of September and the end of the month. October will get very interesting though as the Fed is going to stop buying US Treasuries by Halloween.
Many home owners are very interested in refinancing under 5% and average rates are still below these levels. Many analysts predicted that rates would move up after the Federal Reserve Bank meeting last week. While rates did move up briefly they moved right back down to where they were prior to the meeting. Late is the week we saw mortgage interest rates as low as 4.91%.
One can assume that mortgage rates will continue to be at relatively low levels as long as the Fed is playing a part. The Federal Reserve Bank has held mortgage rates lower for quite some time now and that is not going to change until at least the end of October. When the Fed stops purchasing US Treasuries there is a strong change of an uptrend in treasury yields, it this is the case, we could see mortgage rates move up with treasury yields.
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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