Since last week the 10 year treasury rate yield has continued to go strong and moves higher making most of those in the mortgage market realize that 30 year fixed mortgage rates would soon follow its path as well. Currently, the 10 year yield was on its four day winning streak (or stable) but earlier today it seems as if the 10 year yield is down to by at least .25%. And because of this slight rate movement the daily mortgage interest rates today for July 28 moves slight higher. As of now, the 30-year fixed mortgage rate is 4.44% and the 15-year fixed mortgage rate is 3.94%.

If the 10 year yield continues to pull back slightly today it should not make a huge difference as a slight pull back is already expected after a four day streak of winning. The 30 year fixed mortgage rate will likely stay close around where it standing until the 10 year yield makes a very strong movement to gain a strong foothold position in the market.

On the other hand, according to the website of Reuters, Standard & Poor’s said that the home prices rose for a second straight month in May, but housing might bounce along the bottom for the foreseeable future before sustaining improvement that will filter through the rest of the economy.

“We are going to see a fairly long period where mortgage demand remains weak, based on a view that unemployment is going to remain very high, income growth is going to be pretty subdued and confidence is going to remain quite low,” said Paul Dales, U.S. economist at Capital Economics in Toronto.

Also Read...

  1. Daily Mortgage Rate Update: 30 and 15 Year Fixed Mortgage Rates
  2. 30-Year Mortgage Rates Fell to All-Time-Low Since 1971
  3. Mortgage Rates Still at Lowest Level
  4. Current Home Mortgage Refinancing Interest Rates Ultra Low this Week
  5. Today’s Mortgage Rate Still at Record Low
By Tim - http://stockstobuy.org

Housing Bottom? One of the things I watch for regarding a possible housing bottom are daily mortgage rates. Below is list of Today's Mortgage Rates out of Wells Fargo.

Loan Type - Interest Rate - APR - 7/29/10

30-Year Fixed 4.500% 4.686%
30-Year Fixed FHA 4.625% 5.364%
15-Year Fixed 3.875% 4.195%
5-Year ARM 3.250% 3.504%
5-Year ARM FHA 3.250% 3.074%


Jumbo Loan Rates - APR - 7/29/10

30-Year Fixed 5.125% 5.264%
5-Year ARM 4.125% 3.770%


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