Mortgage Interest Rates December 4 – Rates Mixed Early Today
Posted on | December 4, 2009 | No Comments
Mortgage interest rates for December 4th, 2009 are mixed early today. Prior to 10:00 am eastern we are seeing the 30 year fixed mortgage rate up to 4.69% but the 15 year fixed mortgage rate is down to 4.19%. The 5/1 ARM is also down to 3.63%. The 10 year treasury rate yield is up significantly early so this could push mortgage rates much higher today.
The 10 year treasury rate yield went slightly below its 200 day moving average and since has shot straight up. Early today we have seen a move much higher, almost 3%. It will be very interesting to see what happens next week as this week has been a very strong week for treasury yields. If yields continue higher one would think mortgage rates would move up as well.
There has been a strong correlation in the 10 year treasury rate yield and the 30 year fixed rate mortgage since 1971 which is when Freddie Mac started collecting mortgage rate data. That correlation is not quite as strong in 2009 as the Federal Reserve Bank has been purchasing mortgage backed securities which has helped to lower mortgage interest 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: Jesse Wojdylo
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