Current Mortgage Rates

Thursday, December 04, 2008



Using a mortgage payment calculator is a great way to compare different programs that have been suggested to you by your mortgage broker. For instance, you can calculate payments for a 30 year or 15 year loan. You can compare putting down that extra $5,000.00 or reserving it for home improvement. You can see the difference that one percentage point can make and you can see the differences between various home or condo prices. This can be a great tool for sitting down on your own and comparing programs and options at your own rate. By thinking through all of these factors, you'll make an informed and intelligent decision.

By using different monthly mortgage calculator, you can furnish information about your property and receive an even more accurate estimation of what your payment will be like. Various calculators could you give you different answers. You can also find out approximately how much amount the lending agency will lend you. Calculators can also guide you to determine how any significant changes in the desired sale price of your potential home affects your payments. Based on your capacity to give an estimated monthly payment it guides you to estimate how much monthly payment is required for a house. You can collect all the results and use them to make your own mortgage plan.



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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed5.62%
30-yr. fixed jumbo7.50%
15-yr. fixed5.38%
15-yr. fixed jumbo7.25%
7/1 ARM6.12%
5/1 ARM5.88%
3/1 ARM5.88%
1-yr. ARM6.62%
1-yr. LIBOR ARM6.12%
10/1 ARM6.25%
40-yr. fixed6.88%
*Mortgage Rates Updated: 12/04/2008