Right now is an amazing time for a lot of homeowners to look into refinancing their mortgage. Right now mortgage interest rates are at a 50 year low, meaning that it is a great time to refinance as rates will not get much lower, the skyrocketing refinance applications are proof of this.
Here are the rates for typical mortgage terms across the country for the past few weeks:

December 18, 2008
30-yr 5.19 15-yr 4.92 5-yr ARM 5.60 1-yr ARM 4.94

December 11, 2008
30-yr 5.47 15-yr 5.20 5-yr ARM 5.82 1-yr ARM 5.09

December 4, 2008
30-yr 5.53 15-yr 5.33 5-yr ARM 5.77 1-yr ARM 5.02

November 26, 2008
30-yr 5.97 15-yr 5.74 5-yr ARM 5.86 1-yr ARM 5.18

November 20, 2008
30-yr 6.04 15-yr 5.73 5-yr ARM 5.87 1-yr ARM 5.29

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