Our chart below provides mortgage rates for you in real time! You can instantly compare current mortgage rates at a glance. In addition to the standard 15 and 30 year loans, we also show mortgage rates for the 5 year ARM and the 1 year ARM.
When it's time to speak to mortgage brokers, pay special attention to the lock-in period, which is the window of time that the interest rate and points quoted to you will be guaranteed. The most common timeframes are 30, 35 and 60 days. So as an example, if you are quoted a great mortgage rate and have a lock-in period of 30 days, you need to close on your new home within the month to be truly guaranteed that rate.
Predicting the direction of mortgage rates, much like the weather, is not an exact science. However, following the trends can help guide your decision as to when to lock your mortgage rate.
Now that you know the current mortgage rates, check out our free mortgage payment calculator, to learn the exact amount of your potential house payments. You can even see your amortization schedule. All you will need to do is enter the mortgage rate from the above chart. There is even an optional feature to include your annual property taxes and home owner's insurance.