Current Mortgage Rates

Sunday, November 22, 2009



If you focus on a few basics, you can avoid some of the frustration during your application for a mortgage.
  1. Employment Information - Lenders use your employment and income habits in order to calculate their risk.
  2. Credit History - Before filling out a mortgage application, you should know your credit score and the type of information in your credit report. Sometimes loans have been paid off, but have not been removed from your credit report, so you will need explanations for the lenders.
  3. Accurately report your expenses and payments. They calculate what you can really afford for a reason and rather than trying to lie to get more house than you can afford, let your lender guide you on what will be feasible for your budget.
There are solutions to the frustrations faced by first-time buyers, and by speaking to a number of lenders or letting a broker do the legwork for you, you should be able to find the answer to your particular problem. And while you shouldn't rush into buying, if you've done the groundwork there is no real reason not to take the plunge. Prices look set to rise further this year and Nationwide for one has revised its predictions up. Once you are on the ladder, you can ignore the house price news and start concentrating on the DIY.



Get Current Mortgage Rates
From Top Lenders

Property State
Type of Loan
Home Description
Your Credit Profile
Note: Your credit profile will not be run for this inquiry.

Mortgage Resources



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