Current Mortgage RatesTuesday, December 02, 2008The most likely -- and most frustrating -- reason could be because of the lender. Many people, when they decide to refinance, go to the lender that's servicing their existing mortgage. It may be the easiest refinancing option, but it can also take longer than refinancing with another lender. Because the lender already has your business, you're not a high priority. That will be especially true if you're refinancing to get a lower interest rate, which means the lender will lose money. Tips on Refinancing Your Home Mortgage
Should I Consolidate and How? Does a Prior Refinance Affect This One? Why is This Refinance 'Cash-Out'? Mortgage Refinance with No Closing Cost Should You Rescind Your Refinance? How to refinance a loan for bad credit No Cost Refinancing? What is a Mortgage Refinance? What is cash-out refinancing? When Does Refinancing Really Pay? Is a Refinancing a Good Deal if it Saves Money? What Goes Into the Refinance Decision? Does "No-Cost" Refinance Make Sense? Should I Follow the APR on a Cash-Out Refinance? Does Refinancing at a Higher Rate Ever Make Sense? Refinance With Current Lender? Refinancing into a Bigger Loan? Get Current Mortgage Rates
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Loan Type National Average |
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| 30-yr. fixed | 5.88% |
| 30-yr. fixed jumbo | 7.62% |
| 15-yr. fixed | 5.50% |
| 15-yr. fixed jumbo | 7.50% |
| 7/1 ARM | 6.25% |
| 5/1 ARM | 5.88% |
| 3/1 ARM | 5.88% |
| 1-yr. ARM | 6.75% |
| 1-yr. LIBOR ARM | 6.12% |
| 10/1 ARM | 7.88% |
| 40-yr. fixed | 7.00% |