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A FICO score, developed by Fair Isaac & Company, is a statistical method that lenders use to evaluate the potential risk of lending money. The score typically ranges from 350 to 850, and can help determine the loans an applicant qualifies for. Typically, a higher score means lower interest rates.
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The loan purpose, whether for the purchase of home, refinancing an existing home loan, or for accessing equity in a home, helps determine the loan types and interest rates available to the applicant.
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The loan type indicates the length and interest rate terms of the loan.
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National Mortgage Rate Trends and Averages
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provided by
Informa
| updated Monday, October 6, 2008
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The rate information on this page is © 2007 Informa Research Services, Inc.
More Information
Loan Type
Today
Last Week
15 Year Fixed
6.195%
6.164%
30 Year Fixed
6.585%
6.529%
1 Year ARM
5.533%
5.607%
5/1 Year ARM
5.633%
5.707%
6-Month Mortgage Rate Trend
APR
Trends are based on conforming rates only
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National Home Equity Rate Trends and Averages
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provided by
Informa
| updated Monday, October 6, 2008
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The rate information on this page is © 2007 Informa Research Services, Inc.
More Information
Loan Type
Today
Last Week
Home Equity Line of Credit
5.534%
5.369%
Home Equity Loan - 10 Years
8.129%
8.021%
Home Equity Loan - 15 Years
8.245%
8.136%
6-Month Home Equity Rate Trend
Rate
Trends are based on conforming rates only
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Real Estate Expert Opinion
Jack M. Guttentag
The Mortgage Professor
Federal Reserve Board to the Rescue? Part I
Oct 07, 2008
The Federal Reserve Board released proposals for curbing mortgage abuse. But are they too late?...
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Home Loans questions asked and the answers given by real people on
Yahoo! Answers
if i take out a home equity loan now will this loan affect me if i want to refinance my mortgage.?
- asked by
michael o
Refinance Mortgage or Home Equity Loan?
- asked by
Bleaker
Can you refinance a home equity loan without refinancing your mortgage?
- asked by
jaysydw
Refinance my mortgage and home equity loan?
- asked by
shawnj985
Just wondering, can one have a home equity loan, and still refinance their 1st mortgage? Thank you?
- asked by
PeggyL
Paid off 1st mortgage. Owe 90000 on a 2nd mortgage/home equity loan. Should I pursue a new loan to refinance?
- asked by
Kipster
what's the difference between mortgage refinancing & a home equity loan?
- asked by
shinypearl36
Can someone please tell me the difference between a 2nd mortgage, home equity loan and refinancing?
- asked by
angll_80
Is it possible to refinance your mortgage or get a home equity loan if you have been in your house for 6 month
- asked by
lamaker1@verizon.net
Cash-Out Refinance or Second Mortgage? If Second Mortgage...home equity loan or HELOC?
- asked by
lmatrixl
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