VA Home Loan Mortgage Rates October 24 – Interest Rates Mixed
Posted on | October 24, 2009 | 1 Comment
VA home loan mortgage rates for October 24th, 2009 are mixed late in the day. The conventional 30 year fixed mortgage rate is up to 4.88% while the 15 year fixed mortgage rate is down to 4.32%. The 5/1 AMR is also up to 3.91%. VA home loan mortgage rates are generally .5% to 1% lower than conventional mortgage rates so as you can see now is a great time to pursue a VA home loan.
Mortgage interest rates have been around or below 5% for over a month now as the Federal Reserve Bank continues to do whatever it takes to keep interest rates low. One of the tactics that have used is coming to an end by the end of October. After Halloween the Fed will no longer be purchasing US Treasuries which is likely to cause treasury yields to rise.
If treasury yields start a long term up trend, like the case was this summer, we can expect to see the conventional 30 year fixed rate mortgage move up to 5.5% or higher. Many analysts have predicted that the 10 year treasury rate will move all the way up to 4%. If this is the case you can expect to see the 30 year fixed work its way towards 6%.
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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October 25th, 2009 @ 3:45 am
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