Mortgage Interest Rates January 30 – Mortgage Rates at 5% Today
Posted on | January 30, 2010 | No Comments
Mortgage interest rates for January 30th, 2010 are at 5% today. The conventional 30 year fixed mortgage rate has broken the psychological 5% mark and is up to 5.05%. The conventional 15 year fixed mortgage rate is up to 4.39%. For the entire month of January we have seen 30 year fixed rates between 4.8% and 5% so this breakout to the upside could mean bad things for February.
Many analysts have predicted that mortgage interest rates are going to move higher in the spring of 2010 but this could be the beginning of the move up. The Federal Reserve Bank is going to stop purchasing mortgage backed securities at the end of March which is likely to push mortgage rates up at least .5% to 1%. With that being said, it might be a wise decision to take action sooner rather than later when it comes to locking into a low mortgage rate.
There are many lenders who are still advertising low rates so there are still opportunities. Make sure to take advantage of this low interest rate environment before it is gone. If you continue to wait until the spring or summer of 2010 then you could miss out on the opportunity of a lifetime.
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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