Today’s Lowest Mortgage Interest Rates – Fixed Loan Rates Drop Again
Posted on | February 25, 2010 | No Comments
Today’s lowest mortgage interest rates continue to drop as the 10 year treasury rate yield is sitting right at a support level. Fixed loan rates continue lower towards 4.75% on the 30 year fixed mortgage rate. With this being the case many homeowners will have the opportunity to lock in to a low refinance rate today.
The 10 year treasury rate yield is currently sitting right at its 50 day moving average. Unfortunately, both the 50 day and 200 day moving averages are moving higher which are signs of a bull market for treasury yields. The 30 year fixed mortgage rate and the 10 year treasury rate yield have had a strong correlation since 1971.
Even though we are continuing to see low mortgage interest rates there is a very good chance that these rates could move up in the near future. If the 10 year treasury rate yield sees support at its 50 day moving average and starts to bounce higher then there is a very good chance that we could see 30 year fixed mortgage rates above 5%.
With this being the case you may want to lock in to today’s lowest mortgage interest rates. By making a few simple phone calls you are likely to get preapproved for a low interest rate and you can start the steps to submit your mortgage application.
Author: Alan Lake
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