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Current Mortgage Rates USA

Updated on July 17, 2012

Current Mortgage Rates USA: Penny Pincher Budget Savers

FIND THE LOWEST MORTGAGE RATES! This FREE and informative site is dedicated to saving you money on your home loan. This free website includes time-tested tips to help you save money and make the right choices on a home loan. If you want to get the lowest mortgage rate, you’ve come to the right place!

Are you tired of overpaying for basic goods and services that are necessities? If you’re willing to read through this free website and its links, you can save a lot of money both on your mortgage and on other goods and services. I’ve saved thousands of dollars using many of these ideas. You can do it too!

Let's save some money. Go ahead and release your inner penny pincher. There's so much money to save and so little time to do it!

Mortgages and Budget Savers

Finding the Best Mortgage Rates USA

  • Comparison shop mortgage rates and points. Start with some of these free sites:

  • Although your monthly payment may be higher, you can save tens of thousands of dollars in interest charges by shopping for the shortest-term mortgage you can afford. For each $100,000 you borrow at a 7% annual percentage rate (APR), for example, you will pay over $75,000 less in interest on a 15-year fixed rate mortgage than you would on a 30-year fixed rate mortgage.
  • You can save thousands of dollars in interest charges by shopping for the lowest-rate mortgage with the fewest points. On a 15-year $100,000 fixed-rate mortgage, just lowering the APR from 7% to 6.5% can save you more than $5,000 in interest charges over the life of the loan, and paying two points instead of three would save you an additional $1,000.
  • Check the Internet or your local newspaper for mortgage rate surveys, then call several lenders for information about their rates (APRs), points, and fees. If you choose a mortgage broker, make certain to compare their offers with those of direct lenders.
  • Make sure your credit rating is accurate. One of my colleagues was surprised to find that he couldn't qualify for a loan. The reason was simple. He had, according to his credit report, failed to pay a car loan. The only problem was that the credit reporting agency had the wrong person. It took him months to fix this error. Higher credit scores result in lower interest rates. As a starting point, check out
  • Pay your bills on time. Over 35 percent of your credit report is based on whether you pay your bills on time. Pay on time, and your credit score will increase. Again, a higher credit rating results in a lower interest rate.
  • Eliminate credit card debt. Higher credit card debt results in a lower credit score.
  • Don't apply for new credit cards. Each credit inquiry can result in a 10-point drop in your credit score.

Compare Mortgage Rates

Where are you finding the best mortgage rates?

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