Mortgage Interst Rates January 7 – Rates Set to Move Higher Today
Posted on | January 7, 2010 | No Comments
Mortgage interest rates for January 7th, 2010 are stable early but set to move higher. Early today we are seeing the 30 year fixed mortgage rate at 4.92% while the 15 year fixed mortgage rate is at 4.44%. The 5/1 ARM is quoted at 4.01%. Although these rates look stable to down early there is a very good possibility that they will move higher throughout the day as the 10 year treasury rate yield is back up to 3.85%.
It looks as if 3.85% is going to be slight overhead resistence for the 10 year yield but if it can break through this level then it will make an assualt on 4% and mortgage rates will be well above 5%. For those hoping to lock into a low mortgage interest rate it might be a good idea to take action as soon as possible. As soon as the 10 year yield breaks 4% we are headed much higher as far as mortgage rates.
The Fed remains adamant about stopping the mortgage backed securities purchase program at the end of March 2010. The strong move up in the 10 year yield may be looking ahead to this event. By the time the Fed concludes this program it might already be baked into mortgage rates as they are likely to be around 5.5% or higher.
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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