Mortgage Interest Rates January 28 – Rates Little Changed Today After Obama Speech
Posted on | January 28, 2010 | No Comments
Mortgage interest rates for January 28th, 2010 are little changed today after the Obama State of the Union address last night. The 30 year fixed mortgage rate is at 4.82% while the 15 year fixed mortgage rate is at 4.16%. The 5/1 ARM is up slightly to 3.79%. In President Obama’s address last night he briefly mentioned that he was going to continue to work hard to make sure that refinancing helped lower monthly mortgage payments.
It is still very early in the day, 8:15 am eastern, so there is light volume and even less movement in rates. Yesterday we saw the 2010 lows as the 30 year fixed mortgage rate dropped all the way to 4.78%. There has been a slight bounce back since then but we are still sitting right at the bottom of the 2010 trading range between 4.8% and 5%.
It seems as if the mortgage backed securities purchase program has done its job. Since the program started mortgage interest rates have been at or below 5% for much of the time. When this program conclude, at the end of March 2010, it will be very interesting to see where mortgage rates go.
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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