Mortgage Interest Rates October 25 – Today’s Rates Up
Posted on | October 25, 2009 | No Comments
Mortgage interest rates for October 25th, 2009 are up but in very light volume. The 30 year fixed mortgage rate is up to 4.9% while the 15 year fixed is up to 4.32%. Following the trend, the 5/1 ARM is also up to 3.8%. On a weekend in the fall we can expect very light volume and even less significant moves; this is exactly what has happened on the last full weekend of October.
As October concludes we must ask the question “where are mortgage rates headed?” This is a very tough question to answer because the government and Federal Reserve Bank is giving us mixed signals. At the beginning of October the Fed told us that they are going to stop buying US Treasuries and they feel the economy has stabilized. This would make one think that interest rates would be on the rise.
In the same Fed meeting it was decided that they would extend the purchase program of Mortgage Backed Securities. With this being the case, one would think that mortgage rates would go lower. On top of this, the Obama administration recently introduced a new mortgage plan to help keep mortgage rates low to assist low to middle income families in buying a home at a reasonable interest rate. As you can see the month of November is going to be very interesting.
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: Alan Lake
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