Home Mortgage Refinance Loan Rates – 15 and 30 Year Fixed Interest Rates Higher on November 16, 2010
Posted on | November 16, 2010 | No Comments
Over the last week the 10 year treasury rate yield has moved much higher to the tune of .4%. At the beginning of last week we saw 10 year treasury rate yields around 2.5% and today we are seeing yields at 2.9%. With this being the case it comes as no surprise to see home mortgage refinance loan rates higher.
Both the 15 year and 30 year fixed mortgage interest rate have moved up over the last few days. Currently, the 15 year fixed mortgages at 3.75% while the 30 year fixed mortgages at 4.3%. Even though these levels are very close to historic lows we have seen a balance from the bottom that took place earlier in the month of November.
On November 16, 2010 many Americans may consider refinancing your home loan as mortgage rates have started to move higher. With this move higher there are a growing number of people who are concerned that mortgage rates will move up even more. It will be interesting to see how refinance applications come in this week as there could be a scare that mortgage rates near all-time lows could be a thing of the past.
When looking to take advantage of the current low interest rate environment it is extremely important for borrowers to remember that it takes an amazing credit score to have any opportunity at these low rates. Unfortunately, many Americans have seen their credit score dropped during the credit crisis which makes it very difficult to take advantage of the currently low home mortgage refinance loan rates.
Over the last several months it has been the case that many Americans have looked to refinance but a large number of first-time home buyers have sat on the sideline. With no first-time home buyer tax credit available many of these first-time buyers are waiting for government incentives as home prices continue to stabilize or even move lower. Rather than catching a falling knife many of these homeowners are waiting to see interest rates move up which in turn will be a signal that home prices are moving up.
Author: Mike Garner
Tags: 15 year fixed refinance rates > 30 year fixed refinance rates > Home Mortgage Loan Rates > home mortgage refinance loan rates > mortgage loan rates november > refinance loan rates
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