Current Mortgage Rates
Friday, October 10, 2008
No.
What FHA does for buyers: FHA helps people become homeowners by insuring mortgages for lenders. This allows lenders to offer mortgages to first time buyers and others who may not qualify for conventional loans. Because the FHA insures the loan for the lender, the buyer pays only a very low down payment.
What FHA doesn't do: FHA does not guarantee the value or condition of your potential new home. If you find problems with your new home after closing, we will not give or lend money for repairs, and we can not buy the home back from you. That's why it's so important for you the buyer, to get an independent home inspection. Ask a qualified home inspector to inspect your potential new home and give you the information you need to make a wise decision.
What FHA does for buyers: FHA helps people become homeowners by insuring mortgages for lenders. This allows lenders to offer mortgages to first time buyers and others who may not qualify for conventional loans. Because the FHA insures the loan for the lender, the buyer pays only a very low down payment.
What FHA doesn't do: FHA does not guarantee the value or condition of your potential new home. If you find problems with your new home after closing, we will not give or lend money for repairs, and we can not buy the home back from you. That's why it's so important for you the buyer, to get an independent home inspection. Ask a qualified home inspector to inspect your potential new home and give you the information you need to make a wise decision.
Advantages of Buying over Renting
How Much House Can You Afford?
How Much House Should You Buy?
How much should I borrow?
How Can I Buy Before I Sell?
How Much House Can You Afford?
How Much House Should You Buy?
How much should I borrow?
How Can I Buy Before I Sell?
Understanding your needs for your New House?
Learning about where to buy a Home?
Shopping around and visiting open houses
Understanding your First Mortgage
Should I Assume the Seller's Mortgage?
Should Unmarried Partners Buy a House?
What does a Lease-to-Own Purchase work?
How much can I afford to put as collateral?
Are Manufactured Houses a Good Deal?
Learning about where to buy a Home?
Shopping around and visiting open houses
Understanding your First Mortgage
Should I Assume the Seller's Mortgage?
Should Unmarried Partners Buy a House?
What does a Lease-to-Own Purchase work?
How much can I afford to put as collateral?
Are Manufactured Houses a Good Deal?
Get Current Mortgage Rates
From Top Lenders
Mortgage Resources
- Adjustable Rate Mortgages
- Bad Credit Mortgages
- Bankruptcy
- Better Money Management
- Buying a House
- Credit Card Debt
- Debt Consolidation
- Debt Negotiation
- Home Equity Loan
- Interest Rates
- Locking the Rates
- Managing the Mortgage
- Mortgage Application
- Mortgage Calculators
- Mortgage Insurances
- Mortgage Payments
- Mortgage Qualification
- Mortgage Taxes
- Refinancing
- Second Mortgage
- Selecting a Loan Provider
- Selecting the Mortgage Features
- Selecting the Mortgage Type
- Shopping for a Mortgage
- Tips and Advice
- Current Mortgage Rates by State
Current Mortgage Rates*
Loan Type National Average |
|
| 30-yr. fixed | 6.12% |
| 30-yr. fixed jumbo | 7.62% |
| 15-yr. fixed | 5.88% |
| 15-yr. fixed jumbo | 7.12% |
| 7/1 ARM | 6.25% |
| 5/1 ARM | 6.00% |
| 3/1 ARM | 5.88% |
| 1-yr. ARM | 5.50% |
| 1-yr. LIBOR ARM | 6.12% |
| 10/1 ARM | 8.25% |
| 40-yr. fixed | 7.12% |
*Mortgage Rates Updated: 10/07/2008