Current Mortgage Rates

Thursday, November 20, 2008



Filling out a mortgage application online may seem very easy. The truth is that no mortgage application, online or in person, is ever that simple, so here are some tips on what you can do to make is easier on yourself.
  • Prepare. Get all of your information together ahead of time. Have last year's taxes on hand, a pay stub, a bank statement, your current creditors and account information. Be prepared and the arduous part of mortgage application completion will be much quicker.
  • Find the Site(s). Figure out which lender web site you are comfortable with before you fill out mortgage applications. You may think you are being smart by filling out a ton of mortgage applications to find the best loan program, but if you give your personal information to the wrong site, you could be in trouble. Choose wisely and you'll still get a wide variety of loan program options.
  • Be Thorough. Don't skip steps when filling out your mortgage application. Don't leave things blank or miss details. Be precise and be thorough and the whole process will be better as a result.
To apply for a mortgage loan online you have to follow some simple steps. First of all you have to find a list of suitable mortgage brokers or a lenders who can offer you mortgage loans. Instead of relying on the first one, you need to choose at least half a dozen lenders and then find their contact info, their short profile etc. moreover, there are many review and rating sites that do independent research work to find the best ones, you can choose your potential lenders from them. And, once you have searched your perfect lender then all you have to do is to just complete a secure online mortgage application form. When you fill up all the necessary details and click submit, the form will be automatically uploaded into their system and reviewed by their representatives.

With many lenders, you will receive an instant decision in principle based upon the details you provide on your online application, which can save you a great deal of time and worry. You can also go through an online mortgage broker, which can save you even more time, as one simple application will enable you to access a wealth of deals and lenders that match your needs. Using the Internet has become a hugely popular method of browsing and applying for a mortgage, and for those that want to speed up the process and get the ball rolling, with minimal hassle, this is the ideal solution and the most convenient way to shop for a mortgage.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.12%
30-yr. fixed jumbo7.88%
15-yr. fixed5.75%
15-yr. fixed jumbo7.50%
7/1 ARM6.25%
5/1 ARM5.88%
3/1 ARM6.00%
1-yr. ARM6.62%
1-yr. LIBOR ARM6.12%
10/1 ARM7.88%
40-yr. fixed7.38%
*Mortgage Rates Updated: 11/20/2008