Current Mortgage Rates

Thursday, December 04, 2008



The first step to making money is knowing where you spend it. Once you know where your money is going, you can budget and control it. Start tracking your spending: You should begin writing down everything you spend, the date you spent it, and who you paid, under one of those seven categories. This is a little like recording the checks you write in a checkbook except that you're going to keep track of everything you spend, including cash and credit card expenditures. Get in the habit of saving receipts for everything you buy, no matter how big or how small the purchase might be, and entering those purchases in your budget every night or every couple of nights. Be sure and record how much you spend on monthly bills, too.

Tracking your spending helps to demystify money -- you begin to perceive it as a tool. You gain a sense of power -- you no longer feel that money controls you, but that you control money. Your awareness of your money habits is sharpened, allowing you to make changes to improve your situation. This is an essential money skill, and it's easy.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed5.88%
30-yr. fixed jumbo7.62%
15-yr. fixed5.50%
15-yr. fixed jumbo7.50%
7/1 ARM6.25%
5/1 ARM5.88%
3/1 ARM5.88%
1-yr. ARM6.75%
1-yr. LIBOR ARM6.12%
10/1 ARM7.88%
40-yr. fixed7.00%
*Mortgage Rates Updated: 12/01/2008