Mortgage rates for November 7, 2008

Conventional Mortgage Rates

30 year fixed 6.00%                         6.195% APR

Example: $250,000 purchase price.  $200,000 loan amount. 360 payments.

Monthly principal and interest payment of $1199.10

15 year fixed 5.875%                      6.203% APR

Example: $250,000 purchase price.  $200,000 loan amount. 180 payments.

Monthly principal and interest payment of $1674.24

 FHA Rates

30 year fixed 6.00%                    6.412% APR

Example: $250,000 purchase price.  $244,375 loan amount. 360 payments.

Monthly principal and interest payment of $1471.90

*Annual Percentage Rate

** Quoted payments do not include monthly property taxes, homeowner's insurance or mortgage insurance.