Current Mortgage Rates

Thursday, December 04, 2008



If you are knee deep in debt and unable to pay your bills, credit counseling can be a financial lifesaver. A credit counseling agency may arrange a debt repayment plan, a creditor-approved arrangement that allows you to repay your unsecured debts at reduced interest rates. In these plans, you deposit money each month with the counseling agency. Your deposits are used to pay your creditors according to a payment schedule the counselor develops with you. Some credit counseling agencies charge little or nothing for managing the plan; others charge a significant fee over time. Ask up front what the cost will be.

For starters, find out which credit counseling agencies near you are members of the National Foundation for Credit Counseling (NFCC) or the Association of Independent Consumer Credit Counseling Agencies (AICCCA), the largest and most respected networks of credit counseling agencies. Members of these associations are put through a rigorous accreditation process performed by independent third-party organizations, which carefully review the operating practices of the credit counseling agencies and the effectiveness of their counseling.

Debt management at a credit counseling agency can be quite helpful. They will be able to let you know if a debt management plan is right for you and get you through that process. Most credit counseling agencies can counsel you on how to handle your debt problems on your own, if that is what is right for you.




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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