Mortgage Interest Rates January 29 – Refinance Rates Up Today
Posted on | January 29, 2010 | No Comments
Mortgage interest rates for January 29th, 2010 are up as the 30 year fixed mortgage rate is at 4.9% and the 15 year fixed mortgage rate is at 4.31%. The 5/1 ARM is also up to 3.83%. The 10 year treasury rate yield has pulled back to 3.63% but it looks as if the 50 day moving average is going to hold as a strong support level. Any bounce off this will push mortgage rates higher.
Over the next few weeks we should get a clear indication as to the short term direction of mortgage interest rates. If the 10 year yield continues its uptrend and the Federal Reserve Bank stops purchasing mortgage backed securities then we are sure to see mortgage rates move higher; most likely well above 5%. If this two things do not happen then mortgage rates are likely to remain around 5%.
If you have been thinking about refinancing or buying your first home now is the time to get out there and take action. If you continue to wait you could be taking the chance of mortgage rates moving up drastically. Some analysts feel that mortgage rates could go as high as 8% in 2010; you do not want to wait and see this happen.
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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