Mortgage Interest Rates December 12 – Higher Refinance Rates Today
Posted on | December 12, 2009 | No Comments
Mortgage interest rates for December 12th, 2009 are higher today. Refinance rates across the board are higher as the 30 year fixed rate mortgage is up to 4.78% while the 15 year fixed rate mortgage is up to 4.28%. The 5/1 ARM is also up to 4.00%. The 10 year treasury rate yield has seen a move much higher over the last two weeks. Now that the 10 year yield is well above its 50 day moving average there is a chance it could trend higher.
The 10 year yield seems to have hit a double bottom around 3.2% and bounced much higher. Over the last few weeks the 10 year yield is up around 10% which has helped to push mortgage interest rates much higher. If you were trying to time the bottom of the overall mortgage rates market then you might be out of luck as the 10 year yield could bring mortgage rates higher.
There is still little argument that mortgage rates are very close to an all time low. If you have been thinking about refinancing or getting your first mortgage then now might be the time to get started. By submitting your mortgage application before January you are likely to get ahead of the crowd and avoid the swarm of applications.
If the current economy and your financial struggles have gotten you down make sure to check out the inspirational blog My Life After Retail. The blog is an account of the journey to find peace of mind and happiness in today’s society.
Author: Jeremy North
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