Current Mortgage Rates

Friday, October 10, 2008



One of the best ways to manage your credit card debt is to keep your eye on your interest rate. If you currently are carrying a fair amount of debt on a single or multiple credit cards with high interest rates, you may be able to consolidate them all onto a single, lower interest card. Today, you can even find zero percent interest offers from major banks and credit card companies. The trick with credit card debt is in the interest fees. Most people do not realize that the minimum payment on a credit card is only based on the interest accrued. Therefore, if you never make extra payments, you will never truly reduce your credit card debt.

Here are some tips for managing your credit card debt:
  • if you carry a balance, make sure it's on the lowest rate card you qualify for.
  • If you have more than one credit card, pay the minimum amount on the cards with the lowest rates and apply as much of your monthly payments as possible to the card with the highest rate. Once the higher rate card is paid off, cancel it and start paying as much as you can on the remaining card with the highest rate.
  • It's best to carry no more than one or two bank credit cards, a department store card, and a gasoline credit card. Having many credit cards may result in being turned down for credit when you really need it (when buying a new car or home, for instance), and will place credit inquiries and refusals in your credit history, which lenders frown on.
Credit card debt management helps you to consolidate all your unpaid debts in to one single manageable loan. It is a well functioned management system, which helps you to avoid debts due to your card spending. It tends to be beneficial for you in many ways:
  • It becomes easy for you to pay to a single creditor instead of various other creditors at a time.
  • Very often the new creditor gives you the chance to enjoy lower rate of interest with lower monthly repayments.
With credit card debt management, you can easily consolidate all unpaid debts into one single creditor, instead of different creditors at different times. Here, you can easily manage and clear off the debts, which are included in your credit card bills.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.12%
30-yr. fixed jumbo7.62%
15-yr. fixed5.88%
15-yr. fixed jumbo7.12%
7/1 ARM6.25%
5/1 ARM6.00%
3/1 ARM5.88%
1-yr. ARM5.50%
1-yr. LIBOR ARM6.12%
10/1 ARM8.25%
40-yr. fixed7.12%
*Mortgage Rates Updated: 10/07/2008