VA Home Loan Mortgage Rates October 2 – Mortgage Rates Low Today
Posted on | October 2, 2009 | No Comments
VA home loan mortgage rates for October 2nd, 2009 remain steady but low at 3.83%. Conventional home loan rates for the 30 year fixed rate mortgage are at 4.83% You can expect to see VA home loan rates to be one full percentage point lower than the conventional rate. These levels are getting very close to all time lows so do not let this opportunity pass you by.
Yesterday we saw the conventional 30 year fixed mortgage rate at 4.84% but we have broken that level to the downside now. It might be the case that the next level is 4.75% which is going to get extremely close to the all time low. If we do hit an all time low do not expect it to last for a long time. We might see new lows for the month of October, but in November that is likely to change.
The Federal Reserve Bank has planned to stop buying US Treasuries by the end of October which will likely push mortgage rates up even if it slightly. The Fed is also going to start lowering the amount they are purchasing in mortgage backed securities because they are trying to extend this program through March instead of December. One would think that both of these decisions would cause mortgage interest rates to move higher.
Make sure to check out Subprime Blogger on a daily basis for your VA home loan rates. We will display the current VA home loan rates as well as a short commentary similar to the above column. Bookmark the following VA Loan category to gain easier access to our daily VA loan rates column.
Author: Mike Garner
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