VA Home Loan Mortgage Rates October 20 – Rates Drop to New Lows?
Posted on | October 20, 2009 | No Comments
VA home loan mortgage rates for October 20th, 2009 are down drastically. The convetional 30 year fixed mortgage rate is at 4.79% while the 15 year fixed rate is at 4.27%. The 5/1 ARM is down to 3.78% making all three mortgage loan options down for the day. VA home loan mortgage rate are generally between .5% and 1% lower than conventional mortgage rates so you can do the math and see that VA home loan rates are extremely low in the current mortgage environment.
Earlier today, we at Subprime Blogger, pointed out that the 10 year treasury rate yield was down early in the trading day. The 10 year yield is down almost 2% today which is greatly helping to keep mortgage rates low. The Obama administration introduced another government plan to help keep mortgage interest rates low which could be one of the reason we are seeing lower rates today.
No matter how bad the market tries to set interest rates it is never going to happen with as much government inaction we are seeing. Every time the 10 year yield or mortgage rates start to tick higher we hear of a new government program with the intention to keep mortgage rates low. This is fine and dandy for the time being but what is going to happen when the government finally takes their hand out of the pot and allows the market to set interest rates?
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: Jeremy North
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