Mortgage interest rates for October 31st, 2009 are mixed.? Today we are likely to see very little movement but currently we are seeing the 30 year fixed rate mortgage up to 4.88% while the 15 year fixed is down to 4.25%.? The 5/1 ARM is also up to 3.79%.? With the last day in October being a Saturday it is likely that it is going to be a very slow day in the mortgage industry.

Yesterday we saw a huge drop in treasury yields, over 3% on the 10 year yield.? The 10 year yield now sits right on its 50 day moving average which is going to make next week very interesting.? We are either going to see bounce off this average and we are going to move much higher or we are going to see a breakdown which could lead us all the way down to the 200 day moving average.

As treasury yields go so go mortgage rates so next weeks movements in yields will definitely affect mortgage interest rates.? The government continues to take the correct measures to keep interest rates low but it cannot last forever.? When the Fed stops holding interest rates down we can only hope that mortgage rates ease higher instead of shooting straight up.

Make sure to check out Subprime Blogger on a daily basis for your mortgage interest rates. We will display the current rates as well as a short commentary similar to the above column. Bookmark the following daily mortgage rates category to gain easier access to our mortgage interest rates column:

Daily Mortgage Rates Column

Author: Heather Best