Compare Mortgage Interest Rates Today – Home Loan Rates Set to Move Up Soon
Posted on | March 25, 2010 | No Comments
It is very likely that the mainstream news media is going to start covering mortgage rates very hard in the near future. There are many signs pointing towards higher home loan rates at the end of March and beginning of April. With this being the case we can look for Americans to compare mortgage interest rates today.
At the present time we are seeing the 30 year fixed mortgage rate up drastically to 4.99%. Just yesterday we saw quotes around 4.75% but that has definitely changed. We have seen the 10 year treasury rate yield explode higher which is very bad news for those looking for lower mortgage rates.
It is also the case that ARM rates are moving up as well. The 5/1 ARM is up to 3.7% and could move much higher as the day goes on. The move higher by the 10 year yield is a clear sign that we could be seeing 30 year fixed mortgage rates as high as 5.5% in the very near future.
If you have been looking to refinancing or buy your first home it might be wise to take action sooner rather than later. The longer the wait the better the chance that mortgage rates could be well above 5%, possibly even as high as 6%. Do not miss out on the current low interest rates because they might be gone very soon.
Author: Mike Garner
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