Today's lowest mortgage interest rates have moved up in the month of April 2010. Average 30 year fixed mortgage rates have moved up from 4.75% to 5.15% in two short weeks.
Today's lowest mortgage interest rates have moved from 4.75% to 5.15% in the month of April 2010. The 10 year treasury rate yield has started a strong up trend above its 50 day moving average and this has pushed 30 year fixed mortgage rates much higher. In a few short days we saw the 30 year fixed rate move up a quarter of a percentage point. It should be very interesting to see where interest rates go from here.
Many homeowners are likely to be looking for today's lowest mortgage interest rates as they want an opportunity to lock in to a low rate before we start to see home loan rates move higher. At the beginning of the year many analysts predicted that rates were likely to start rising in the spring of 2010. Just a few short weeks into the spring 30 year rates are starting their climb. No one knows if this climb will continue but it has been a strong move higher in just a few short weeks.
With housing markets still struggling there is a good possibility that many Americans will continue to look to buy homes if rates stay low. President Obama and his staff realized this but unfortunately there is only so much the Government and the Federal Reserve Bank can do to hold interest rates low. Eventually the market is going to set rates and that could be exactly what is happening in April of 2010. Look for rates to be very volatile over the next few months.