Mortgage Interest Rates December 23 – Mortgage Rates at 5% Today
Posted on | December 23, 2009 | No Comments
Mortgage interest rates for December 23rd, 2009 are mixed early. The 30 year fixed mortgage rate is right at 5% while the 15 year fixed mortgage rate is down slightly to 4.36%. The 5/1 ARM is also down slightly to 3.93%. This move all the way up to 5% has been expected by Subprime Blogger because the 10 year treasury rate yield has made a straight move up from 3.2% to 3.75% in December.
Over the last few days we have mentioned that there was a very good chance that mortgage rates could go above 5% and that is becoming a reality very quickly. Trying to time the bottom of mortgage rates is not a good idea as rates can move very quickly which is exactly what has happened in December. With rates still around 5% it might be a good idea to submit your mortgage application now rather than waiting.
The 10 year yield has pulled back slightly early today and you can expect very light volume for the next few days as Christmas is upon us and many people will be leaving Wall Street and other major markets early. The next time we will get a true indication as to where yields and mortgage rates are headed is next Monday. The year of 2010 should be very exciting!
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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