Mortgage Interest Rates December 30 – Rates Mixed Today
Posted on | December 30, 2009 | No Comments
Mortgage interest rates for December 30th, 2009 are mixed. The 30 year fixed mortgage rate is down to 5.02% while the 15 year fixed rate mortgage is also down to 4.41%. The 5/1 ARM is going against the trend and is up to 4.09%. It is still very early in the day, around 8:30 am eastern, so the volume is very light and many banks and mortgage lenders have yet to open. It will be interesting to keep an eye on the 10 year treasury rate yield.
We saw a slight pullback in the 10 year treasury rate yield and we are seeing an extension of that pullback early today. As stated earlier, it is very early to anything could change at anytime. There is a good chance that we could see a cooling off period for the 10 year yield after an extreme move up for the month of December. If this happens the 30 year fixed could drop below the 5% level.
If you have been thinking about refinancing or getting your first home now might be the last few weeks of mortgage rates around 5%. Many economists have been predicting that mortgage interest rates are going much higher in the next year. A Morgan Stanley economist predicts that mortgage rates will go as high as 8% in 2010. You might want to lock in before this happens.
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
Comments
Leave a Reply