VA Home Loan Mortgage Rates January 4 – Mortgage Rates Down
Posted on | January 4, 2010 | No Comments
VA home loan mortgage rates for January 4th, 2009 are down as the conventional 30 year fixed mortgage rate is below 5%. The 30 year fixed is at 4.96% while the conventional 15 year fixed mortgage rate is at 4.43%. The 5/1 mortgage rate is actually bucking the trend and is up to 4.15%. We saw a little bit of a cooling off for the 10 year treasury rate yield today which helped to push mortgage rates a little bit lower.
VA home loan mortgage rates are generally .5% to 1% lower than a conventional mortgage loan. With this being the case it is very attractive to see mortgage rates around 5%. To get a mortgage interest rate well below the psychological 5% mark would be something that almost any home owner would desire. You should not miss out on this amazing opportunity as it may not last.
There are many analysts who have predicted that mortgage rates are going to move higher. A chief economist at Morgan Stanley predicted that we would see mortgage rates around 7.5% to 8% sometime in 2010. That would be a drastic move higher and it would be very interesting to see what that did to the overall housing market. If mortgage rates did move this high it is likely that the Federal Reserve Bank would do everything they could to push mortgage rates lower.
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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