VA Home Loan Mortgage Rates February 2 – Rates Mixed Today
Posted on | February 1, 2010 | No Comments
VA home loan mortgage rates for February 2nd, 2010 look to be mixed. The conventional 30 year fixed mortgage rate is up slightly to 4.89% while the conventional 15 year fixed mortgage rate is down to 4.26%. The conventional 5/1 ARM is also down to 3.72%. VA home loan mortgage rates are generally .5% to 1% below conventional mortgage rates so you can see they are very low at the moment.
The 10 year treasury rate yield was up slightly on Monday which moved mortgage rates very little. The 10 year yield currently sits on its 50 day moving average which is likely to serve as a very strong support level. If the yield gets a bounce off this support level you can expect mortgage rates to start to move higher.
Many analysts have predicted that mortgage rates are going to start to move much higher as early as the spring of 2010. It will be interesting to see if the 10 year yield has a strong part in this move higher. The resurgence of the 10 year yield uptrend could push 30 year fixed mortgage rates well above 5%.
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
Comments
Leave a Reply