Mortgage Rates Today 5/28/09 May 28, 2009

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 - 5/28/09

40-Year Fixed 6.875% 7.081%
30-Year Fixed 5.500% 5.719%
20-Year Fixed 5.625% 5.922%
15-Year Fixed 5.000% 5.368%
5-Year ARM 4.000% 4.120%

Mortgage Rates really went up over the past two days due to treasury bonds falling. This could potentially kill the housing bottom if rates stay this high because if you were a home buyer, would you pay a 5.5% 30 yr fixed when the interest rate was just 4.62% weeks ago?

For Previous Mortgage Rates - Click Here

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