Mortgage Interest Rates November 5 – Rates Higher After Fed Meeting
Posted on | November 5, 2009 | 1 Comment
Mortgage interest rates for November 5th, 2009 are higher early this morning. The 30 year fixed mortgage rate is up to 4.95% while the 15 year fixed is up to 4.33%. The 5/1 ARM is also higher to 3.84%. After the Federal Reserve Bank meeting yesterday we continued to see treasury yields move higher as the Fed continues to mention the easing of its purchase programs.
The Fed has completely stopped the purchase program of treasury yields as of November 1st. This does not mean that they cannot restart the program but as of now the Fed is not making any purchases of US Treasuries. Over the long run, this is likely to cause treasury yields to move higher which in turn will cause mortgage rates to move higher.
The Fed is going to continue to buy mortgage backed securities until March 2010 so this should keep interest rates at a moderate level. Many analysts are predicting that mortgage interest rates will move up into the 5.5% range prior to March and then after March they could move up another full percentage point. The next six months are going to be very interesting for mortgage rates!
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
Comments
One Response to “Mortgage Interest Rates November 5 – Rates Higher After Fed Meeting”
Leave a Reply
November 5th, 2009 @ 8:54 am
Awesome report! Thank You!