Mortgage Interest Rates December 31st – Rates Up Again Today
Posted on | December 31, 2009 | No Comments
Mortgage interest rates for December 31st, 2009 are up again today. It looks as if the last day of 2009 is going to leave us with the 30 year fixed mortgage rate above 5%. Currently we are seeing the 30 year fixed mortgage rates at 5.04% while the 15 year fixed mortgage rate is at 4.47%. The 5/1 ARM is following the trend and is up as well. The 10 year yield was much higher this morning but has pulled back in afternoon trading.
We are going to leave 2009 with a bang but 2010 could be even more exciting when it comes to mortgage interest rates. Many analysts have been predicting higher interest rates but no one really knows when we can expect the see the move higher start. In all reality, it may have started already as the 10 year treasury rate yield has moved from 3.2% all the way up to 3.85% in the month of December.
If the 10 year yield continues this strong uptrend in 2010 then there is very little doubt that we will see mortgage interest rates above 6% quite quickly. The Federal Reserve Bank plans to stop buying mortgage backed securities starting at the end of March so this could be the true indication that we could see mortgage rates move much higher in 2010.
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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