Current Mortgage Rates

Saturday, November 21, 2009



When comparing mortgages, home buyers should begin by researching current interest rates. Because rates can fluctuate greatly over a thirty day period, watching the current mortgage market trends can help consumers zero in on the best deals. The lower the interest rate, the lower the monthly payment will be. Making sure that you get the best rates available is extremely important when taking out a home loan. The amount of money that you pay in interest can significantly impact the total amount of money that you pay over the life of your loan. Because homes are meant to be an investment as well as a place to live, it is important that you pay as little as possible to reap the full benefit of ownership.

However, getting the best mortgage rates isn't easy. You will need to have a good credit history to qualify for prime rates. A down payment, verifiable income, and a steady job are also contributing factors. But qualifying is only half the battle. Mortgage rates can vary dramatically from lender to lender. You will need to shop around of you want the best deal.




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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