Today’s Lowest Mortgage Interest Rates – Refinance Rates Tame This Weekend
Posted on | March 6, 2010 | No Comments
Today’s lowest mortgage interest rates are around 4.8% on the 30 year fixed mortgage rate and 4.25% on the 15 year fixed mortgage rate. Refinance rates tend to be tame over the weekend as all financial markets are closed and there are few influences on mortgage interest rates that could cause drastic moves.
Over the next few weeks it will be very interesting to keep an eye on mortgage interest rates. While we are still seeing today’s lowest mortgage interest rates below 5% there is a very good chance that mortgage rates could move up in the near future. The Fed might have a very big influence on this.
At the end of March the Federal Reserve Bank will stop purchasing mortgage backed securities which will likely cause mortgage rates to move up at least .5% to 1%. What it will also do is cause the 10 year treasury rate yield to have a strong correlation on the 30 year fixed mortgage rate.
Over the last fifteen month the 10 year treasury rate yield has carved out an up trend as both the 50 day and 200 day moving averages are headed higher. At the present time the 10 year yield sits right on its 200 day moving average which could cause a large bounce pushing mortgage interest rates higher as well.
Author: Jeremy North
Comments
Leave a Reply