Mortgage Interest Rates September 27 – Rates Low Today
Posted on | September 27, 2009 | No Comments
Mortgage interest rates for September 27th, 2009 continued to be low today. The conventional 30 year fixed mortgage rate is at 4.95% with the 15 year fixed rate at 4.55%. The 5/1 ARM is down to 3.68%. Yesterday there was quite a bit of movement in mortgage interest rates which was unexpected. Being the last weekend in September I expected very little movement but the 30 year fixed got all the way down to 4.92% at one point.
The movement of this weekend has not been with any conviction so we will see what the final week of September brings. With the Fed stopping their purchases of US Treasuries in October it will be interesting to see where we go in the next four weeks. Once the Fed completely stops buying US Treasuries there is a strong chance that we are going to see a rally in the treasury yields which will push mortgage rates higher.
Anyone that wants to refinance at rates below 5% might want to get going on the process. If you continue to wait you might find that mortgage rates work their way back towards the 5.25% level. This is still extremely low when looking at a historical chart of mortgage rates but refinancing under the psychological level of 5% is very important to many home owners.
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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