Current Mortgage Rates

Friday, November 20, 2009



London Inter Bank Offering Rate (LIBOR) is an average of the interest rate on dollar-denominated deposits, also known as Eurodollars, traded between banks in London. The Eurodollar market is a major component of the International financial market. London is the center of the Euro-market in terms of volume.

The LIBOR is an international index which follows the world economic condition. It allows international investors to match their cost of lending to their cost of funds. The LIBOR compares most closely to the 1-Year CMT index and is more open to quick and wide fluctuations than the COFI rate. There are several different LIBOR rates widely used as ARM indexes: 1-, 3-, 6-Month, and 1-Year LIBOR. The 6-Month LIBOR is the most common. If you are looking for the benefits as follows, LIBOR-indexed ARMS are a good deal for you:

  1. Ability to choose from more financing alternatives for your refinance or move-up borrowers
  2. Ability to obtain flexible options for your financially savvy borrowers who plan to move before the initial period ends
  3. Ability to leverage financial savings for your first time home buyers looking for lower initial rates and monthly payments, and who understand that their rate will increase



Get Current Mortgage Rates
From Top Lenders

Property State
Type of Loan
Home Description
Your Credit Profile
Note: Your credit profile will not be run for this inquiry.

Mortgage Resources



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. ARM3.62%
1-yr. LIBOR ARM4.38%
10/1 ARM4.62%
*Mortgage Rates Updated: 11/20/2009