Home Mortgage Refinance Loan Rates – 15 and 30 Year Fixed Interest Rates Stable This Weekend
Posted on | December 17, 2010 | No Comments
As the 10 year treasury rate yield has dropped slightly it is the case for a home mortgage refinance loan rates have stabilized heading into the weekend. Both 15 and 30 year fixed interest rates have been for quite the wild ride as the 10 year treasury rate yield has accelerated much higher from 2.5% all the way up to 3.5%.
Since the beginning of November we have seen 30 year fixed mortgage rates move from 4.0% all the way up to 5.0%. At the present time we are seeing 30 year fixed rates around 4.8% as the 10 year treasury rate yield has pulled back. Even though this is the case the uptrend remains intact and we could see higher mortgage rates in the near future.
With many people looking to refinance to save money heading into the new year it will be very interesting to see how refinance applications come in after this move higher. It is generally the case that homeowners want to receive the lowest possible rate and if they see mortgage interest rates moving higher they will sit on the sidelines and wait for rates to dip.
Unfortunately, it does not look as if mortgage rates are going to decrease drastically over the next few weeks. It is also the case that millions of Americans are more concerned with the Christmas holiday when it comes to travels and spending time with family. This is one of the main reasons that mortgage refinance applications decreased drastically during the month of December.
With the new year just around the corner we fully expect to see many people make New Year’s resolutions related to personal finance and money. This is one of the main reasons that we will likely see a huge increase in refinance and mortgage applications during the month of January and February 2011. At this time making mortgage rate predictions could be very difficult as the Fed could take action.
Author: Jeremy North
Tags: 15 year fixed interest rates > 15 Year Mortgage Rates > 30 year fixed interest rates > 30 Year Mortgage Rates > home loan mortgage rates > Home Mortgage Loan Rates > home mortgage refinance rates
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