Current Mortgage Rates

Monday, October 06, 2008



Credit counseling is an affordable service aimed at helping consumers improve their debt management habits and take steps towards improving their credit. If you want to work with a credit counseling agency, interview several. Check them out with your Better Business Bureau, state Attorney General, and local consumer protection agency. Any reputable credit counseling agency should send you free information about itself and the services it provides without requiring you to provide any details about your situation. If not, consider that a red flag and go elsewhere for help.

Questions to Ask a Credit Counseling Agency:
  • What services do you offer?
  • What educational materials/information do you offer? Is it free?
  • What are your fees? Are there set-up and/or monthly fees, how are they broken down?
  • What if I can't afford to pay your fees or make contributions?
  • Will I have a formal written agreement or contract with you?
  • Are you licensed to offer your services in my state?
  • What are the qualifications of your counselors? Are they accredited or certified by an outside organization? If so, by whom? If not, how are they trained?
  • Do your employees work on commission?





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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.12%
30-yr. fixed jumbo7.62%
15-yr. fixed5.88%
15-yr. fixed jumbo7.12%
7/1 ARM6.38%
5/1 ARM6.25%
3/1 ARM6.00%
1-yr. ARM5.50%
1-yr. LIBOR ARM6.25%
10/1 ARM8.25%
40-yr. fixed7.12%
*Mortgage Rates Updated: 10/05/2008