Current Mortgage Rates

Tuesday, October 07, 2008



Many mortgage companies are reluctant to finance people with bad credit or no money to put down. A bad credit mortgage lender helps people who have bad credit score, low income, etc. It is advisable to check the rates with a few more bad credit lenders and compare. At present interest rates are low so try and get the best deal.

Debt consolidation loan carries low rate of interest as compared to the interest rate paid on other debts. This results in saving a sum of money which can be further utilized in fulfilling other desires. It can be used to consolidate all the debts of the person either its business debts, personal debts, or credit card debts etc. The only problem with this strategy is that if you are already suffering problems with your payments then your credit report and credit rating are likely to have already suffered as a result. This may make it difficult or perhaps impossible to get a debt consolidation loan. This has the harsh result that for those people who may be most in need of debt consolidation, the option may not be open to them as they are unable to secure the loan in the first place.




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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 ARM6.38%
5/1 ARM6.25%
3/1 ARM6.00%
1-yr. ARM5.50%
1-yr. LIBOR ARM6.25%
10/1 ARM8.25%
40-yr. fixed7.12%
*Mortgage Rates Updated: 10/05/2008