Compare Mortgage Interest Rates Today – Rates Heading Higher in April 2010
Posted on | March 24, 2010 | No Comments
Many Americans are looking to compare mortgage interest rates today with the knowledge that mortgage rates could be heading higher in April of 2010. Today we are seeing the 10 year treasury yield accelerate higher to the tune of 4%. This is very bad news for those looking to get low mortgage interest rates.
The 10 year treasury rate yielded and the 30 year fixed mortgage rate have had a very strong correlation since 1971. As the 10 year treasury rate yield works its way higher there is a very good chance that we could see mortgage rates start to move up as well. Unfortunately, it may be too late to lock into those very low mortgage rates.
At the present time we are still seeing mortgage rates around 4.85% but do not be surprised to see his mortgage rates shoot higher in a very short time period. With the Fed concluding their mortgage back securities purchase program and the 10 year treasury rate yield moving higher we could see mortgage rates above 5.5% very soon.
If you are looking to lock into a low mortgage rate today than it would be wise to take action now. If you continue to wait you may be staring at 6% 30 year fixed mortgage rates rather than the 4.75% we have seen for much of 2010.
Author: Alan Lake
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