VA Home Loan Mortgage Rates October 28 – 15 Year Fixed Down
Posted on | October 28, 2009 | No Comments
VA home loan mortgage rates for October 28th, 2009 are down significantly. The conventional 30 year fixed rate mortgage is down to 4.75% while the 15 year fixed rate is down to 4.25%. The conventional 5/1 ARM is also down to 3.68%. VA home loan mortgage rates are generally .5% to 1% lower than conventional mortgage rates so you can see current VA home loan mortgage rates are very attractive.
It is quite interesting to see mortgage interest rates down this much while the 10 year treasury rate yield is still in an up trend. The 10 year yield has pulled back to the last two days but nothing significant enough to push mortgage rates this low. The Obama administration released a new mortgage plan to keep mortgage rates low and obviously that is working wonders.
The Federal Reserve Bank is going to stop purchasing US Treasuries at the end of October and this is likely to push treasury yields higher. With this in mind one would think that mortgage rates would move higher as treasury yields and mortgage rates have a very strong correlation. So far this has not reigned true for the month of October but we will see what November brings.
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Author: Tiffany Mann
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