Today’s Lowest Mortgage Interest Rates – Higher Rates After Fed Program Concludes
Posted on | March 29, 2010 | No Comments
Today’s lowest mortgage interest rates are around 5% for the 30 year fixed mortgage rates and 4.3% for 15 year fixed mortgage rates. Unfortunately, it looks as if there are going to be higher rates after the Fed concludes their mortgage backed securities purchase program. This program will conclude at the end of March.
Many analysts have predicted that mortgage rates could move one full percentage point higher after the program concludes. No one knows just how high mortgage rates will go but it seems that rates are starting to move up. Another reason interest rates could move higher is because the 10 year treasury rate yield is in a strong up trend.
Last week we saw the 10 year yield break through the 50 day moving average and move much higher. If the 10 year yield continues to move higher it is very likely that the 30 year fixed mortgage rate will move up to at least 5.5%. It will be very interesting to see where mortgage rates go from this point.
There are many mortgage lenders who continue to offer low mortgage interest rates. It would be wise to contact a few mortgage lenders and see what rate you will qualify for. Before going through the entire process it might be smart to see if you will qualify for a low rate.
Author: Alan Lake
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