Mortgage Interest Rates December 3 – Rates Bounce Higher
Posted on | December 3, 2009 | No Comments
Mortgage interest rates for December 3rd, 2009 have bounced higher above all time low levels. We are currently seeing the 30 year fixed mortgage rate around 4.68% while the 15 year fixed mortgage rate is at 4.18%. The 5/1 ARM is up quite a bit to 3.81%. Even though rates have bounced off their all time lows they are still extremely low when looking at interest rates over the history of published data.
The 10 year treasury rate yield has drastically increased over the last three days which has caused mortgage rates to move slightly higher. The 10 year yield fell well below its 200 day moving average but we are seeing a move today that is not only pushing it above its 200 dma but also above its 50 dma. It is still very early in the trading day, 9:00 am eastern, so it will be interesting to track the movement of the 10 year treasury rate yield.
Over the last few months it seems that every time there is a move higher in treasury yields the Federal Reserve Bank steps in and takes the necessary actions to help push mortgage rates lower. The correlation between the 10 year yield and 30 year fixed mortgage rate is no longer as strong as it once was because of the actions of the Fed.
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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