Mortgage Interest Rates October 26 – Rates Up Today
Posted on | October 26, 2009 | 1 Comment
Mortgage interest rates for October 26th, 2009 are up early but that could all change at any time. Early on today, prior to 8:00 am est, the 30 year fixed mortgage rates is at 4.9% while the 15 year fixed is at 4.35%. The 5/1 ARM is actually bucking the trend and is down to 3.76%. The volume has been light early on so these are not strong moves.
It is going to be very important to keep an eye on the 10 year treasury rate yield today as this could go a long way in determining where mortgage rates are going in the distance future. The 10 year yield actually broke through its 50 day moving average on Friday and it will be interesting to see if it can follow that up with another positive day.
If we do see a positive week from the 10 year treasury rate yield then it is highly likely that we are going to see higher mortgage interest rates in the future. The 10 year yield has a very strong correlation with the 30 year fixed rate mortgage and as one goes the other follows. If the 10 year yield starts working its way towards 4% then we are likely to see mortgage rates inch up to 5.5%.
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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October 26th, 2009 @ 8:52 am
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