Mortgage Interest Rates December 10 – Citi Mortgage Rates Higher Today
Posted on | December 10, 2009 | 1 Comment
Mortgage interest rates for December 10th, 2009 are higher today. Citi and other major lenders are showing the conventional 30 year fixed mortgage rate up to 4.8% while the 15 year fixed is up to 4.28%. The 5/1 ARM is also up to 3.88%. One of the main reasons for the move higher is the uptick in the 10 year treasury rate yield. Over the last two weeks we have seen the 10 year yield move from 3.2% all the way up to 3.46%.
Now that the 10 year yield is above its 50 and 200 day moving average it is now pushing mortgage interest rates higher. The last weekend in November saw the 30 year fixed rate mortgage around 4.49 which was an all time low. SInce then it has almost been a straight shot up to 4.8%. If the 10 year yield continues to increase in the manner it has then it will be a matter of days before the 30 year fixed is at 5%.
Even with the strong move higher, mortgage interest rates are still very close to an all time low. If you have been thinking about refinancing or getting your first mortgage now is the time to do so. If you are hoping to plan the bottom you are taking the risk of missing the chance to lock in to a very low rate. As you have seen, mortgage rates can move higher by as much as .3% in a matter of days so do not try to time this market.
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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December 10th, 2009 @ 3:09 pm
[...] five weeks of declines, mortgage interest rates increased . The conventional 30 year fixed mortgage rate is up to 4.8% while the 15 year fixed is up to [...]