Current Mortgage Rates

Saturday, November 21, 2009



This is something everyone dreams about but, unfortunately, most people are only dreaming. Debt free living can be more than a dream if you're willing to do what it takes.
  • Develop a Debt Management Plan: To do so, follow these steps:
    1. Determine who you owe and how much you owe.
    2. Determine how much you can pay back and when it can be paid.
    3. Develop a plan for paying your debts.
    4. Discuss your plan with your creditors.
    5. Control spending by following your debt repayment plan until debt is repaid.
    6. Monitor your plan.
  • Manage your good debt: Good debt is like an investment: Incurring it usually reaps a reward. It includes such things as: mortgages, home equity loans and student loans. You can maximize the value of good debt through careful management:
    1. Watch interest rates and try to lock in a low rate on a mortgage.
    2. Consolidate high-interest loans into one lower monthly payment.
    3. Use any unexpected financial windfall to try to eliminate bad debt.
  • Change your shopping habits: One of the biggest mistakes people make after making a financial recovery is to allow themselves to fall back into old habits and get into debt. Before they know it, they have racked up another few thousand in credit bills, and they are heading down the same path to having a desperate situation where they just can't make their payments on time each month.



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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed4.75%
30-yr. fixed jumbo5.25%
15-yr. fixed4.25%
15-yr. fixed jumbo4.75%
7/1 ARM4.38%
5/1 ARM4.00%
3/1 ARM4.00%
1-yr. ARM3.75%
1-yr. LIBOR ARM4.38%
10/1 ARM4.62%
*Mortgage Rates Updated: 11/21/2009