Current Mortgage Rates

Saturday, November 21, 2009



Use an online PMI calculator if you are buying a home and you think you'll end up with PMI. This will help you better understand the effects of PMI on your bottom line.
  • You'll need the purchase price of the property.
  • You'll need to know how much you are planning to use as your down payment.
  • Finally, you'll need to choose a loan term of 10, 15, 20 or 30 years.
Input the pertinent data and the PMI mortgage calculator will give you results for each loan type, purchase price, and down payment options that you have chosen. If you want to play the numbers game with PMI, use a PMI calculator to get the right figure. You usually have to get private mortgage insurance when you are borrowing more than 80% of the value of your home.

If you want to calculate your PMI into your monthly payments, start with a good PMI calculator. You can look online at the search engines for alternate options or you can start with large, well know financial resource sites. You could even try your own local bank's website. A PMI calculator will help you get a real idea of how much PMI will add to your monthly payment. Look into one so you can budget appropriately.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed4.75%
30-yr. fixed jumbo5.25%
15-yr. fixed4.25%
15-yr. fixed jumbo4.75%
7/1 ARM4.38%
5/1 ARM4.00%
3/1 ARM4.00%
1-yr. ARM3.75%
1-yr. LIBOR ARM4.38%
10/1 ARM4.62%
*Mortgage Rates Updated: 11/21/2009