Current Mortgage Rates

Sunday, September 07, 2008



The 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
  1. Apply for a pre-approval to many different lenders to make sure you are getting the lowest rate possible.
  2. Make sure that your original mortgage does not have a pre-payment penalty or early payoff penalty of any kind.
  3. When evaluating different lender offers, in the mortgage loan pre-approval process, pay closest attention to the interest rates they are offering & the closing costs.
  4. Get your interest rate and closing costs in writing as soon as you decide on a lender to work with.





Get Current Mortgage Rates
From Top Lenders

Property State
Type of Loan
Home Description
Your Credit Profile
Note: Your credit profile will not be run for this inquiry.

Mortgage Resources



Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.38%
30-yr. fixed jumbo7.00%
15-yr. fixed5.88%
15-yr. fixed jumbo6.50%
7/1 ARM6.25%
5/1 ARM6.00%
3/1 ARM5.88%
1-yr. ARM6.00%
1-yr. LIBOR ARM5.50%
10/1 ARM7.88%
*Mortgage Rates Updated: 09/04/2008