Current Mortgage Interest Rates at 5%

For October 13th, 2009 mortgage interest rates are up slightly.  The conventional 30 year fixed mortgage rates has been seen at 5% while the 15 year fixed is at 4.48%.

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The 5/1 ARM has also raised up to 3.91%.  If we look at a move above 5% with any strength we might find that 5% has again become a level of support.

Once again 5% is going to serve as a floor for mortgage rates

During summer most of the times 5% was a level in which mortgage rates could not break through.  It took a falling 10 year treasury rate yield to assist the 30 year fixed through 5%.

We could very well find that once again 5% is going to serve as a floor for mortgage rates as now the 10 year yield has bounced off of its 200 day moving average and is moving up.

High probability of Higher mortgage rates in future

There has been a good chance that we have seen a short term fall for mortgage rates as all signs are now pointing towards rates gradually moving higher.  Due to the reason that the Federal Reserve Bank continues to buy mortgage backed securities so we will not see rates skyrocket but this does not mean that we are not going to see rates creep higher throughout the fall and winter.  As the Fed has decided to conclude their purchase program of US Treasuries it looks that there is a high probability that mortgage interest rates will increase.

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One Response to “Current Mortgage Interest Rates at 5%”

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