Current Mortgage Rates

Tuesday, January 06, 2009



Face the problem When you suffer from a bad credit situation, don't hide the truth from yourself. If you have to juggle five or six credit cards to avoid overdrafts, if you postpone paying your existing loans off or if you can't get any new loans anymore, you're in trouble and you have to face it. Bad credit problems will only get worse every month unless you stop ignoring them. You can get out of them easily, if only you follow these simple steps.

  • Pay all of your bills on time. Late payments (payments that are 30 days late or more) have a negative effect on your credit rating.
  • Reduce the number of credit cards you carry. Write to your creditors to request that they close your accounts and report this status change to all three credit-reporting
  • Get some goodwill. If you've been a good customer, a lender might agree to simply erase that one late payment from your credit history.
You usually have to make the request in writing, and your chances for a "goodwill adjustment" improve the better your record with the company (and the better your credit in general). But it can't hurt to ask. By knowing your legal rights, you can do a lot to get the bill collectors off your back and allow yourself to fix and build your credit back up. No ones credit is too "bad" to repair. As long as you have fixed the financial troubles that got you there in the first place.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed5.25%
30-yr. fixed jumbo7.12%
15-yr. fixed5.00%
15-yr. fixed jumbo6.62%
7/1 ARM6.25%
5/1 ARM5.75%
3/1 ARM5.88%
1-yr. ARM6.25%
1-yr. LIBOR ARM5.62%
10/1 ARM6.38%
40-yr. fixed6.25%
*Mortgage Rates Updated: 01/06/2009