Today’s Lowest Mortgage Interest Rates – Fed Attempts to Keep Home Loan Rates Low
Posted on | March 31, 2010 | No Comments
Today’s lowest mortgage interest rates are up slightly to 4.95%. Over the last two years the Federal Reserve Bank has taken the necessary steps to keep home loan rates low. Unfortunately for those looking for low rates, the market is eventually going to set interest rates and that means that likely means higher rates.
If you have been thinking about locking in to a low mortgage interest rate it would be wise to take action sooner rather than later. Many analysts have predicted that mortgage interest rates are likely to rise beginning in the spring of 2010. We are shortly into the spring and we have already seen the 10 year yield and 30 year fixed mortgage rate move up.
The 10 year treasury rate yield pushed through its 50 day moving average last week and has moved higher. The 10 year yield and the 30 year fixed mortgage rate have had a very strong correlation since 1971. Little has changed in 2010 to chance this correlation so expect mortgage rates and treasury yields to move in tandem.
At the present time mortgage interest rates are still very low. There is reason to believe that this could change soon so it would be a smart idea to start your research today. With many lenders still offering low rates there is an opportunity to lock in in the month of April.
Author: Jeremy North
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