Current Mortgage Rates

Saturday, November 07, 2009



Compound interest is a powerful force if you stick with a consistent savings plan. Simply, it means you earn interest on the interest. In other words, interest is calculated on the basis of the principal sum plus any interest that has accrued -- unlike simple interest, which is interest calculated only on the principal amount. It's hard to calculate how much you can save without concrete numbers. You should consider using a compounding savings calculator. These savings calculators will help you by taking compounding funds and interest rates into account when trying to planning for your savings goals. You will need information on hand to make use of a savings calculator.
  • Starting amount: The starting balance or current amount you have invested or saved.
  • Additional contributions: The amount that you plan on adding to your savings or investment each period. The investment period options include monthly, quarterly and annually.
  • Years: The total number of years you are planning to save or invest.
  • Rate of return: The annual rate of return for this investment or savings account. Historically the major stock indexes have averaged 11% to 12% per year. If you plan on withdrawing your money within five years, you may wish to choose a more conservative rate of return.
  • Compound interest: This is the frequency that your investment's interest or income is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest.


For stock and mutual fund investments you should choose 'Annual'. For savings accounts and CDs all of the options are valid, although you will need to check with your financial institution to find out how often interest is being compounded on your particular investment.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed4.99%
30-yr. fixed jumbo5.62%
15-yr. fixed4.38%
15-yr. fixed jumbo5.25%
7/1 ARM4.25%
5/1 ARM4.12%
3/1 ARM4.25%
1-yr. ARM3.75%
1-yr. LIBOR ARM4.38%
10/1 ARM5.00%
*Mortgage Rates Updated: 11/06/2009