Current Mortgage RatesSaturday, November 07, 2009Nobody can predict what interest rates will do. But historically, rates rise faster than they come down. So if you're thinking about buying a home or refinancing your mortgage, lock in your rate now. You can always refinance later if rates drop again. Any near-future drop in interest rates may not be drastic enough to impact your monthly mortgage payment. Of course, every situation is different, so it's important to consider all of your options. Locking your interest rate is a very safe play for you because no matter what direction rates move between today and your closing date, you'll end up on the winning side of the table. If you lock your mortgage rate today, you are assured a 100% success rate. How to Move fast on Locking the Best Interest Rate? Is it Wise to Float? When is the Right Time to Lock? Why is Locking Unique to Mortgages? What's Covered By a Lock? Get Current Mortgage Rates
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Loan Type National Average |
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| 30-yr. fixed | 4.88% |
| 30-yr. fixed jumbo | 5.62% |
| 15-yr. fixed | 4.38% |
| 15-yr. fixed jumbo | 5.25% |
| 7/1 ARM | 4.25% |
| 5/1 ARM | 4.12% |
| 3/1 ARM | 4.12% |
| 1-yr. ARM | 3.75% |
| 1-yr. LIBOR ARM | 4.38% |
| 10/1 ARM | 4.75% |