Mortgage Interest Rates October 29 – 30 Year Fixed Up Today
Posted on | October 29, 2009 | No Comments
Mortgage interest rates for October 29th, 2009 are up across the board today. The 30 year fixed mortgage rate is up to 4.88% while the 15 year fixed is up to 4.33%. The 5/1 ARM is up significantly to 4.01%. This comes on the heels of a big drop late yesterday but mortgage rates snapped back to reality and are continue their move sideways.
As October concludes we are seeing that mortgage interest rates are stable right at 5%. The work of the Federal Reserve Bank is truly keeping mortgage rates as low as possible. In November, when the Fed stops buying US Treasuries, it will be very interesting to see what happens to mortgage rates. Without any Fed influence they will go up but we know the Fed will jump in with another plan to push rates lower.
By refinancing now you could be one of the last groups of home owners who have a chance to lock in below 5%. The psychological level is extremely important to many home owners and it is a good feeling to refinance your rate to below this level. There are still many lenders who are advertising below this level but it might not last much longer after Halloween.
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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