Mortgage Interest Rates November 24 – Rates Down Today
Posted on | November 24, 2009 | No Comments
Mortgage interest rates for November 24th, 2009 are down. Today we are seeing interest rates down early with the 30 year fixed mortgage rate down to 4.65% while the 15 year fixed mortgage rate is down to 4.19%. The 5/1 ARM is going against the trend and is actually up to 3.75%. All time lows could be tested in the next few weeks.
The weekly all time low for the 30 year fixed mortgage rate is 4.61%. Obviously we have a ways to go before the weekly average gets this low but do not be surprised if it happens in the month of December. There has recently been a swell in home sales due to the first time home buyer tax credit; this is likely to continue as the tax credit has been extended through April 2010.
The 10 year treasury rate yield continues to move lower towards its 200 day moving average and this looks to be strong support. If the up trend in the 10 year yield is going to continue then the 200 dma must hold as support as the support levels below the 200 dma are much lower. If the 10 year yield does drop below the 200 dma then there is almost no doubt that mortgage rates will hit all time lows.
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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