Mortgage Interest Rates September 29 – Rates Drop Today
Posted on | September 29, 2009 | No Comments
Mortgage Interest Rates for September 29th, 2009 continue to remain very low. The average for 30 year mortgage rates is 4.91% with the 15 year fixed at 4.31%. The 5/1 ARM is stable at 3.85%. Mortgage rates had a very interesting day yesterday as they started out extremely low at 4.87% but then shot up to over 5%. This did not last long as rates dropped right back down to 4.92%. The 10 year treasury rate yield was down towards the end of the trading day which helped lower mortgage rates.
Until the end of October mortgage interest rates are going to be quite interesting. One would think that the 10 year treasury rate yield would start increasing slightly before the Fed stops buying US Treasuries but that doesn’t look like its going to happen any time soon. The down trend remains in tact and there looks to be no rally coming any time soon. A rally in treasury yields is the only thing that is going to push mortgage rates higher at this point.
WIth mortgage interest rates well below 5% it could be the case that we see all time lows coming in the near future. When mortgage rates get down to the 4.75% level it will get very interesting. The government continues to work hard to keep interest rates low so all Americans can benefit from lower payments so make sure to take advantage of this opportunity and research your options.
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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