VA Home Loan Mortgage Rates October 27 – Rates Mixed Today
Posted on | October 27, 2009 | No Comments
VA home loan mortgage rates for October 27th, 2009 are mixed. Today we have seen the conventional 30 year fixed mortgage rate down to 4.88% while the 15 year fixed is up to 4.4%. The conventional 5/1 ARM is also up to 3.82%. VA home loan mortgage rates are generally .5% to 1% lower than conventional mortgage rates so you can see that a VA mortgage rate is very attractive today.
The 10 year treasury rate yield pulled back greatly today, over 2.5%, after moving up on Monday. This pullback is likely to test the current 50 day moving average. If we see the 50 dma hold as a level of support then there is a great chance that this rally could extend all the way to the summer highs of 4%. If this happens you can expect to see conventional mortgage rates around 5.5%.
If the 10 year yield starts to move up with any strength it will be interesting to see what the next move for the Federal Reserve Bank will be. They have been adamant about concluding their US Treasuries purchase program by the end of October but what are they going to do if mortgage rates start making their way towards 6%? Only time will tell!
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Author: Heather Best
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