Today’s Lowest Mortgage Interest Rates – 15 Year Fixed Rate Moves Up
Posted on | January 29, 2010 | No Comments
Today’s lowest mortgage interest rates are around 4.9% for the 30 year fixed mortgage rate and 4.25% for 15 year fixed rates. At the present time the 15 year fixed rates have started to move up along with 30 year rates. The 10 year treasury rate yield bounced off its 50 day moving average and has started moving higher as well. This has helped push mortgage rates up.
If you are looking to lock into a very low interest rate it might be a good idea to take action sooner rather than later. Many analysts have projected that mortgage rates are likely to move higher starting in the spring of 2010. If you continue to wait in hopes that mortgage rates are going to drop you may miss out on the opportunity of a lifetime.
With mortgage interest rates still below 5% on the 30 year fixed mortgage rate there is little argument that now is a great time to refinance or buy a home. Many homeowners would be willing to do almost anything to have the opportunity to refinance an interest rate around this level. Do not get complacent and think that interest rate at this level will last forever.
Over the next several months we are likely to see interest rates start to move higher. The Federal Reserve Bank is going to stop purchasing mortgage-backed securities and there is very little doubt that this will push mortgage rates up. How much they will jump no one really knows but there’s a good chance that we could see a full percentage point move higher in less than a few months.
Author: Alan Lake
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