Today’s Lowest Mortgage Interest Rates – Late March Sees Rates Up
Posted on | March 26, 2010 | No Comments
Today’s lowest mortgage interest rates are still below 5% but it seems to be that the trend is now moving higher for the 30 year fixed mortgage rate. Over the last few days we have seen the 10 year treasury rate yield breakthrough its 50 day moving average and start to move much higher.
This is a very bad sign for those who are hoping to see all-time low mortgage rates in the month of April. With the 10 year treasury rate yield now pushing towards 4% we can expect to see mortgage interest rates move up in the very near future. How high these interest rates will go is anyone’s guess.
Many analysts have predicted that mortgage rates could move up one full percentage point when the Federal Reserve Bank stops purchasing mortgage-backed securities. This purchase program is set to expire at the end of the month and there has been no indication that there will be an extension.
With a 1% move higher in the 30 year fixed mortgage rate we are going to see rates around 6% and this does not include the move of the 10 year treasury rate yield. There’s a very good possibility that mortgage rates could move up over one full percentage point in the spring of 2010.
Author: Jeremy North
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