Current Mortgage Rates

Friday, July 04, 2008



Nobody 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.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.38%
30-yr. fixed jumbo6.75%
15-yr. fixed6.00%
15-yr. fixed jumbo6.50%
7/1 ARM6.00%
5/1 ARM5.88%
3/1 ARM5.62%
1-yr. ARM5.62%
1-yr. LIBOR ARM5.50%
10/1 ARM7.75%
40-yr. fixed7.00%
*Mortgage Rates Updated: 07/03/2008