Mortgage Interest Rates October 24 – 30 Year Fixed 4.84%
Posted on | October 24, 2009 | 1 Comment
Mortgage interest rates for October 24th, 2009 are down early. In light volume, early on Saturday, we are seeing the 30 year fixed mortgage rate at 4.84% while the 15 year fixed is at 4.21%. The 5/1 ARM is also lower to 3.66%. Volume is very light on a Saturday in the fall which is to be expected as the financial markets are closed.
These moves lower mean very little at this point as we will not know the true direction of mortgage rates until Monday. There are quotes coming in but with the treasury markets closed these moves up or down are not significant. Overall mortgage rates continue to remain extremely low even though the 10 year yield has moved higher the last few weeks.
If the 10 year yield continues to put distance between itself and its 50 day moving average on Monday then it looks like mortgage rates are going to have to move higher in the month of November. With the 200 dma already serving as strong support it would make the up trend even strong if the 50 dma now served as support as well.
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: Mike Garner
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October 25th, 2009 @ 3:44 am
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