The Mortgage Bankers Association released its Weekly Mortgage Survey earlier today. According to the survey mortgage rates have continued to fall with a slight rise in refinance activity. The average interest rate for 30 year fixed mortgages dropped to 4.21 percent from 4.25 percent last week. Similarly the average interest rate for 15 year fixed mortgages fell to 3.62 percent from its previous 3.75 percent last week.
Total Mortgage is currently offering some of the lowest mortgage rates in Connecticut and across the nation. If you like to be part of the Constitution State and its rich history now is the time for first time home buyers to take advantage of these low mortgage rates to purchase their new homes. It is also a great time for refinancing your current mortgage rate into a lower mortgage rate and save thousands in the long run.
Fixed rate mortgages are one of the most common mortgage loans among borrowers for its consistent monthly payments and fixed rate throughout the life of the loan. Currently at Total Mortgage, a 30 year fixed conventional mortgage is available to borrowers in CT at 3.750 percent with 3.941 percent APR. A 15 year fixed conventional mortgage is available at 3.250 percent with 3.602 percent APR.
Total Mortgage is also an FHA approved lender. If you are a first time home buyer looking for a low down payment and more lenient loan requirements, then a mortgage loan insured by the Federal Housing Administration could be your answer. At Total Mortgage a 30 year fixed FHA is available at 4.000 percent with 5.080 percent APR.
Please call us at 877-868-2509 to speak with one of our licensed mortgage experts for more information on our current mortgage rates and mortgage products in CT.
*All rates shown are for 30 day rate locks. Longer locks available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 2 points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for jumbo loan amounts is calculated using a loan amount of $500,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for FHA loan amounts is calculated using a loan amount of $295,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. Some rates and fees may vary by state. All interest rates listed are for qualified applicants and are subject to mortgage approval. All rates are subject to change without notice.
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time2wakeup
October 14, 2010 @ 10:27 am
Why wait for good loans to go bad? Mortgage companies need a new plan to STREAMLINE MORTGAGE REFINANCES. Allow current, UNDERWATER mortgages to be quickly refinanced at current interest rates. Too many underwater homeowners are just giving the keys back to the banks on their bad investment. New loan rates and terms, with the current lender, would be a great incentive for homeowners to stay in their existing home.
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