Mortgage Interest Rates October 15 – 30 Year Fixed Up Today
Posted on | October 15, 2009 | 1 Comment
Mortgage interest rates for October 15th, 2009 are up today. The 30 year fixed rate mortgage is at 4.99% while the 15 year fixed is at 4.4%. The 5/1 ARM is bucking the trend and is down early to 3.77% in light volume. Early yesterday we at Subprime Blogger were very confused about the 30 year fixed hitting 4.69% while the 10 year yield was moving higher. We called this an anomaly and that was exactly the case.
Mortgage interest rates snapped back into reality and now the 30 year fixed is on the brink of moving above 5%. If we see a move higher in treasury yields we are likely to break 5% briefly. I personally feel that the 50 day moving average of the 10 year treasury rate yield is going to be a point of resistance and this comes with mortgage rates finding 5% a ceiling; coincidence, I think not.
Look for mortgage rates to hang around the 5% level for some time and possibly move lower for a few days. Once there is news to push the 10 year yield through its 50 dma we will see mortgage rates break through 5% with some conviction. Unfortunately it looks as if the short term bottom has been put in for both the 10 year yield and mortgage interest rates.
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: Jeremy North
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October 15th, 2009 @ 10:42 am
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