Current Mortgage Rates

Saturday, November 21, 2009



There are a lot of online mortgage calculators. They are accurate and easy to use. However, please be aware that there are some problems associated with any calculator. The issue is the lack of human thought and analysis. Online mortgage calculators are a sort of homeowner simulation program, where different variables can be electronically inputted and accurate results instantaneously displayed.

A quick navigation through one of the thousands of mortgage calculator websites currently available will yield near-perfect statistics for any mortgage situation. And, by comparing and contrasting different variables, a prospective homeowner can decided whether to rent or to buy, whether to apply for a 15-year fixed interest loan or a 5-year hybrid adjusted interest mortgage or whether to refinance at any given time. One great tool is a mortgage calculator. These can be found on many real estate and mortgage websites.

In fact there are thousands of sites providing mortgage calculators. All you need to do is input some basic information and you'll immediately see what your monthly payment would be on a certain priced house at a particular interest rate. If you want to get more detailed there are mortgage calculators that let you include other expenses, car financing, as well as refinancing options.




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