Mortgage Interest Rates November 15 – Rates Slightly Higher
Posted on | November 15, 2009 | No Comments
Mortgage interest rates for November 15th, 2009 are slightly higher very early. Being a Sunday in the fall there is very little movement in mortgage rates and that movement is to be taken with a grain of salt as all financial markets are closed. The 30 year fixed mortgage rates is at 4.7% while the 15 year fixed mortgage rate is at 4.24%. The 5/1 ARM is at 3.63%.
This week could get very interesting when it comes to the 10 year treasury rate yield and mortgage interest rates. For the last month and a half we have been harping on the fact that the 10 year treasury rate yield has been carving out an uptrend. With this being the case we at Subprime Blogger expected mortgage rates to react and move higher.
This has yet to happen and we are not sure exactly when it will happen. Eventually the market is going to set interest rates and not the Federal Reserve Bank. The questions is when is that going to happen? The Fed has stopped buying US Treasuries but they are still purchasing mortgage backed securities. Obviously the purchases of mortgage backed securities is holding mortgage interest rates down.
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: Jesse Wojdylo
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