Mortgage Interest Rates December 18 – Fixed Rates Mixed Today
Posted on | December 18, 2009 | No Comments
Mortgage interest rates for December 18th, 2009 are mixed today. The 30 year fixed rate mortgage is down to 4.71% while the 15 year fixed mortgage rate is up to 4.22%. The 5/1 ARM is also up to 3.75%. Yesterday we saw a huge sell off in the 10 year treasury rate yield so it can be expected that mortgage rates would drop slightly. The 10 year yield is still well above its 50 and 200 day moving averages at this point.
If the 10 year yield continues its current uptrend then you can expect the 30 year fixed mortgage rate to eventually get very close to 5%. With the 50 and 200 dmas of the 10 year yield not in a strong uptrend it will be very interesting to see where we go from here. Once moving above 3.6% there is a good chance that the next strong level of resistance will be 4%.
If the 10 year yield gets all the way up to 4% then it is almost a given that the 30 year fixed will make its way towards 5.5%. If you have been thinking about locking in to a low mortgage interest rate then there is no reason that you should continue to wait. If you continue you wait you could end up seeing mortgage rates closer to 6% rather than 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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