Mortgage Interest Rates October 30 – Refinance Rates Much Lower
Posted on | October 30, 2009 | No Comments
Mortgage interest rates for October 30th, 2009 are down significantly even though it is in light volume. The 30 year fixed rate is down to 4.76% while the 15 year fixed rate is down to 4.25%. The 5/1 ARM is also down to 3.67%. It is still very early on a Friday morning so this quotes can change at any time but significant moves down have taken place so far today.
The last trading day in October should be quite interesting. This is the last day that we are going to see the Federal Reserve Bank purchase US Treasuries. On Monday that program will have concluded and other investors will have to start sinking money into treasuries. The Fed is hoping that foreign investors are now interested in investing in our treasury notes; we will see.
The move down this morning does not seem sustainable. We have seen mortgage rates bounce between 4.75% and 4.95% this whole week but we have also see the 50 dma of the 10 year treasury rate yield hold as support. If another up leg comes for the 10 year yield that this 4.95% ceiling is likely to be broken and mortgage rates will be on their way to higher levels.
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: Tiffany Mann
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