Current Mortgage Rates

Saturday, September 06, 2008



You may receive an offer from a company that claims it can fix your bad credit rating. The truth is if the credit bureaus have accurate information, there's nothing you or anyone else can do to quickly improve your score if you haven't managed your debts well in the past. (The only way to influence your score is to start managing your debt wisely.) And if there are errors in your file, you can contact the bureaus directly -- you don't need to pay someone else to do it. The three major bureaus have instructions on how to do this on their Web sites.

There are no specific rules governing either how long it takes for your credit score to increase or how many points it can go up during any set period. Depending on how you handle debt -- from your mortgage payments to your credit card bills -- your score can actually change from month to month. Most people, however, won't see their score go up more than about 30 points during any three-month period.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.38%
30-yr. fixed jumbo7.00%
15-yr. fixed5.88%
15-yr. fixed jumbo6.50%
7/1 ARM6.25%
5/1 ARM6.00%
3/1 ARM5.88%
1-yr. ARM6.00%
1-yr. LIBOR ARM5.50%
10/1 ARM7.88%
*Mortgage Rates Updated: 09/04/2008