Mortgage Interest Rates January 1 – Rates Continue Higher Today
Posted on | January 1, 2010 | No Comments
Mortgage interest rates for January 1st, 2010 continue higher as the new year is upon us. The 30 year fixed rate mortgage is up to 5.07% while the 15 year fixed mortgage rate is at 4.46%. The 5/1 ARM is also up to 4.19%. It is not a surprise to see the new year roll in with higher mortgage rates as that could be the theme of 2010.
If you have been thinking about refinancing or getting your first home then now is the time to do so. Mortgage interest rates are still very close to 5% but that is very likely to change in the near future. With the strong uptrend in the 10 year treasury rate yield there is a strong possibility that we are going to see mortgage rates at 5.5% before you know it. After March 2010 we could see the 30 year fixed mortgage rate above 6%.
This possible move higher in mortgage interest rates is likely to force many home owners into making a quick decision. Are they going to rush their mortgage refinance now or are they going to continue to wait and hope that mortgage rates drop. It will be interesting to see how many mortgage applications are submitted during the first few weeks of 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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