Mortgage Interest Rates December 15 – Higher Refinance Rates Coming
Posted on | December 15, 2009 | No Comments
Mortgage interest rates for December 15th, 2009 are mixed but expect to see higher mortgage rates in the near future. The 30 year fixed mortgage rate is up to 4.74% while the 15 year fixed mortgage rate is up to 4.44%. The 5/1 ARM is going against the trend and is down to 3.71%. The 10 year yield continues its strong move higher as it is already up 1.5% early this morning; prior to 9:00 am.
The 10 year treasury rate yield has been on a straight move up since hitting 3.2% at the end of November. If we see the 10 year yield break 3.6% then it might be a straight shot to 4% which could mean mortgage rates around 5.5% or higher. If this is the case you can expect there to be quite the buzz on financial networks and financial newspapers. The 10 year yield looks very strong at the present time.
If you had been planning on trying to time the bottom of the market then you may be out of luck. The 30 year fixed rate mortgage bottomed in the last week of November at 4.49%. Since then it seems like we have seen an up day for interest rates almost every single day. Now that the 30 year fixed is up to 4.74% it might be a good idea to go ahead and try to lock in below 5%.
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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