Archive for October, 2009

VA home loan mortgage rates for October 31st are down quite a bit but being a weekend we cannot take much merit in these moves.  The conventional 30 year fixed mortgage rate is down to 4.71% while the 15 year fixed mortgage rate is down to 4.2%.  The conventional 5/1 ARM is also down to 3.7%.  VA home loan mortgage rates are generally .5% to 1% below conventional mortgage rates.

Weekend movements in mortgage rates are never very significant because all financial markets and most financial institutions are closed.  With this being the case there are not a huge amount of quotes and those quotes are not affected be the financial markets.  The week ahead will be very interesting for mortgage rates though.

For those of you who have been thinking about refinancing or buying your first home now is as good of a time as ever.  Mortgage rates are well below 5% and mortgage lenders are happy to work with borrowers.  Do not let this opportunity pass you buy, get out there and start the home refinance process today.

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.

VA Loan

Author: Mike Garner

FHA home loan rates for October 31st, 2009 have been unchanged today which is absolutely no surprise.  Weekends in the fall are always slow for mortgage interest rates.  The conventional 30 year fixed mortgage rate is at 4.8% while the 15 year fixed mortgage rate is at 4.27%.  The conventional 5/1 ARM is actually up slightly to 3.82%.  FHA home loan rates are generally .5% to .75% higher than conventional mortgage rates.

The 10 year treasury rate yield dropped down to its 50 day moving average so next week should be very interesting.  We are either going to see the yield bounce off support or there is going to be a breakdown and yields are going to go much lower.  Either way, expect to see mortgage rates greatly affect by the actions of the 10 year treasury rate yield.

If you have been thinking about refinancing or getting your first mortgage now is as good of a time as ever.  With conventional mortgage interest rates below 5% now might be the time to take action and lock in to a low mortgage rate.  There are many lenders out there who are advertising mortgage rates this low so make sure to take action.

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

FHA Loan Rates

Author: Heather Best

In our quest for 1 million Google searches Subprime Blogger had a great work week.  We received over 60,000 Google searches that sent visitors to our site.  The hot topics of the week were the first time home buyers tax credit extension as well as the unemployment extension.  Thank you all for the visits and the comments that you have sent.

Current Google Searches since July 4th – 211,789

If you would like to help, please tell anyone you know to Google “Subprime Blogger” as this would be the easiest way to find this website directly. You can access the chart of our progress on Facebook through the Subprime Blogger Group. Please feel free to join the group as well!

Google Searches Progress Chart

Author: Jesse Wojdylo

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

VA home loan mortgage rates for October 30th, 2009 are down.  We have seen mortgage rates down today as the 10 year treasury rate has fallen back to its 50 day moving average.  The conventional 30 year fixed rate mortgage is down to 4.79% while the 15 year fixed is down to 4.26%.  The conventional 5/1 ARM is actually up to 3.78%.  VA home loan mortgage rates are generally .5% to 1% below conventional mortgage rates.

The 10 year treasury rate yield is going to have a very interest week next week. It is currently sitting right at its 50 day moving average but the Federal Reserve Bank is going to stop buying US Treasuries as of November 1st.  With this being the case there is a very good chance that we are going to see a strong up trend in the 10 year treasury rate yield.

As the yield up trends you can expect to see mortgage interest rates follow.  As the 10 year yield goes so go mortgage rates.  There has been a strong correlation since 1971 and we continue to see that correlation into 2009.  If the 10 year yield gets back up to its summer high near 4% then it is likely that we are going to see mortgage interest rates around 5.5%.

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.

VA Loan

Author: Mike Garner