Stocks are continuing their skid today as solutions to the debt problems in Europe prove to be elusive. Losses in the stock markets have lead to rallies in Treasury bonds and mortgage backed securities, pushing mortgage rates to levels just above record lows.
While the Federal Reserve made no changes in monetary policy yesterday, it appears increasingly likely that events in Europe could prompt the Fed to engage in a third round of quantitative easing. If the Fed purchases more mortgage backed securities we could see rates fall even further. If the situation in Europe does not improve, it could kick off a renewed recession in the United States. If inflation stays under control, look for the Fed to make a move in the first quarter of the new year.
Are you purchasing a new home? Do you want to refinance your current mortgage? Total Mortgage has some of the lowest mortgage rates and fastest closing times in the industry. Our pre-approval process is fast and easy, and can be completed over the phone in just minutes. Call us today at 877-868-2503 in order to speak with one of our licensed loan officers. We might be able to save you money on your monthly home payments today.
Some of Our Most Popular Rates and Products*:
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional Mortgage | 3.750% | 3.862% |
| 15 Year Fixed Conventional Mortgage | 3.250% | 3.448% |
| 30 Year Fixed FHA Mortgage | 3.750% | 5.092% |
| 30 Year Fixed Jumbo Mortgage | 4.625% | 4.740% |
| 5/1 Conforming ARM Mortgage | 2.375% | 2.384% |
| 5/1 Jumbo ARM Mortgage | 2.625% | 2.830% |
***Mortgage rates change frequently. The above rates were quoted at 1:05 P.M., on December 14, 2011. Call 877-868-2503 for more details.***
Today’s Links:
Bloomberg: U.S. stocks fall as Merkel sees no easy solution. So the market is reacting to nothing? There never was going to be an easy solution to this problem.
Housing Wire: FOMC maintains ZIRP. No surprise here. No hint of further easing, either.
Bloomberg: Corzine knew MF used client accounts.
Palm Beach Post: Florida leads country in mortgage fraud cases. A dubious distinction, to say the least.
Calculated Risk: MBA: “Refinance applications increase as rates drop to 2011 lows”.
NY Times: Euro closes in on lows for the year.
Washington Post: Greece is slipping on reforms, IMF warns. Greece has difficulty collecting taxes at all. This is not a surprise.
* All rates shown are for 30 day rate locks. Longer locks are available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 1 point, a $495 application fee, $400 appraisal 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, $400 appraisal 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, $450 appraisal 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 with 720 or higher FICO and 80 LTV and are subject to mortgage approval with full documentation of income. All rates are subject to change without notice. All rates shown are for 30 day rate locks with 1 point unless otherwise noted.
Total Mortgage consistently offers some of the lowest current mortgage rates, jumbo mortgage rates, and fha mortgage rates in the country.
Loading ...
RSS feed for comments on this post.
Leave a comment