Current Mortgage Rates
Saturday, November 21, 2009
If you are just trying to refinance the loan you already have, and not take out any equity, the type of loan you are looking for is called a Rate and Term loan. With this type of refinance you can change the term (or length of your loan) and you can also change the interest rate. The purpose of a rate/term refinance is to change to a lower interest rate or change the term of a loan without advancing new money on the loan. Closing costs can be rolled in. The borrower may receive a maximum 1% of the loan amount in cash at closing.
Your new interest rate will depend on how much money you are borrowing and for what length of time. Mortgage companies use something called a 'loan to value' ratio to calculate this. For instance, if you had an $80,000 home and an existing mortgage of $40,000, you would have a loan to value ratio of 50%. Basically, the higher your loan to value (LTV) ratio, the higher the interest rate.
Your new interest rate will depend on how much money you are borrowing and for what length of time. Mortgage companies use something called a 'loan to value' ratio to calculate this. For instance, if you had an $80,000 home and an existing mortgage of $40,000, you would have a loan to value ratio of 50%. Basically, the higher your loan to value (LTV) ratio, the higher the interest rate.
Where to find Buy Down Mortgage Rates
Negotiate for the Lowest Mortgage Rate Possible
All about Cash Out Refinance Rates
Finding out Refinancing Rates for Mobile Homes
What is the Mortgage Interest Rate?
Negotiate for the Lowest Mortgage Rate Possible
All about Cash Out Refinance Rates
Finding out Refinancing Rates for Mobile Homes
What is the Mortgage Interest Rate?
What Determines the Interest Rate?
What is the reason behind interest rates rising and falling all the time?
What is APR?
Does the APR Help?
Find out the Current Refinance Rate
What is the Optimal Way to Lower Mortgage Rates
Where and How to Research Refinance Rates
What are Rate & Terms for Refinancing Rates
Where to find Buy Down Mortgage Rates
Negotiate for the Lowest Mortgage Rate Possible
All about Cash Out Refinance Rates
Finding out Refinancing Rates for Mobile Homes
What is the Mortgage Interest Rate?
What Determines the Interest Rate?
What is the reason behind interest rates rising and falling all the time?
What is APR?
Does the APR Help?
Find out the Current Refinance Rate
What is the Optimal Way to Lower Mortgage Rates
Where and How to Research Refinance Rates
What is the reason behind interest rates rising and falling all the time?
What is APR?
Does the APR Help?
Find out the Current Refinance Rate
What is the Optimal Way to Lower Mortgage Rates
Where and How to Research Refinance Rates
What are Rate & Terms for Refinancing Rates
Where to find Buy Down Mortgage Rates
Negotiate for the Lowest Mortgage Rate Possible
All about Cash Out Refinance Rates
Finding out Refinancing Rates for Mobile Homes
What is the Mortgage Interest Rate?
What Determines the Interest Rate?
What is the reason behind interest rates rising and falling all the time?
What is APR?
Does the APR Help?
Find out the Current Refinance Rate
What is the Optimal Way to Lower Mortgage Rates
Where and How to Research Refinance Rates
Get Current Mortgage Rates
From Top Lenders
Mortgage Resources
- Adjustable Rate Mortgages
- Bad Credit Mortgages
- Bankruptcy
- Better Money Management
- Buying a House
- Credit Card Debt
- Debt Consolidation
- Debt Negotiation
- Home Equity Loan
-
Interest Rates
- What is APR
- Does the APR Help
- Find out the Current Refinance Rate
- What is the Optimal Way to Lower Mortgage Rates
- Where and How to Research Refinance Rates
- What are Rate & Terms for Refinancing Rates
- Where to find Buy Down Mortgage Rates
- Negotiate for the Lowest Mortgage Rate Possible
- All about Cash Out Refinance Rates
- Finding out Refinancing Rates for Mobile Homes
- Locking the Rates
- Managing the Mortgage
- Mortgage Application
- Mortgage Calculators
- Mortgage Insurances
- Mortgage Payments
- Mortgage Qualification
- Mortgage Taxes
- Refinancing
- Second Mortgage
- Selecting a Loan Provider
- Selecting the Mortgage Features
- Selecting the Mortgage Type
- Shopping for a Mortgage
- Tips and Advice
- Current Mortgage Rates by State
Current Mortgage Rates*
Loan Type National Average |
|
| 30-yr. fixed | 4.75% |
| 30-yr. fixed jumbo | 5.25% |
| 15-yr. fixed | 4.25% |
| 15-yr. fixed jumbo | 4.75% |
| 7/1 ARM | 4.38% |
| 5/1 ARM | 4.00% |
| 3/1 ARM | 4.00% |
| 1-yr. ARM | 3.75% |
| 1-yr. LIBOR ARM | 4.38% |
| 10/1 ARM | 4.62% |
*Mortgage Rates Updated: 11/21/2009