Mortgage Interest Rates October 23 – 30 Fixed Up Early Today
Posted on | October 23, 2009 | No Comments
Mortgage interest rates for October 23rd, 2009 are mixed early. In very light volume the 30 year fixed mortgage rate is up to 4.86% while the 15 year fixed is down to 4.27%. The 5/1 ARM is up rather significantly to 3.87% but once again in very light volume. Going into a fall weekend we are likely to see very little volume which could mean that any movements today are not done in strength.
It will be important to keep an eye on the 10 year treasury rate yield today as it is sitting just above its 50 day moving average. Before we see another leg up in the current up trend of the 10 year yield there needs to be a significant move higher in the 10 year yield so it puts some distance between the current yield and the 50 dma. That move will probably not happen today but it will be interesting to keep an eye on yields.
Overall, mortgage interest rates continue to stay quite low. If the 10 year yield does continue its up trend then it is highly unlikely that we are going to see mortgage rates under 5% for quite some time. President Obama’s administration just came out with another mortgage plan to help keep mortgage rates low so that is likely to have an affect but eventually the market has to set 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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