30 Year Fixed Mortgage Rates Up Early Today

For October 12th, 2009 mortgage interest rates are up early on.  Today is going to be quite interesting due to the reason that interest rates could see great volatility.

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30 year and 15 year fixed rate mortgage

Currently we can see that the 30 year fixed rate mortgage are at 4.97% having 15 year fixed at 4.39%.  The 5/1 ARM is at 3.87% so far.  These numbers have been noticed at very early in the day, before 8:00 am, so they are sure to change throughout the day.

10 year treasury rate yield

It has been predicted that the 10 year treasury rate yield would hit its 200 day moving average and would bounce higher.  This is exactly what has happened late last week but the move was much higher than what was anticipated.  On Friday alone the 10 year yield was up almost 4%.  Due to this we believe that there is a strong chance of a pull back this week.

How this will effect mortgage rates?

Now we do not have clear answer to the question that what this will do to mortgage rates.  Between the 10 year treasury rate yield and the 30 year fixed rate mortgage there is a strong correlation  but with the government taking the necessary actions to keep interest rates low the correlation has not been as strong as it is usually.  If the 10 year yield makes a strong move in any of the direction then it is surely said that there would be the same type of movement from mortgage rates.

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