Evidently Friday’s summit of European leaders did little to persuade the markets that Europe is going to be able to get its house in order. Bond yields on European government bonds are spiking and Moody’s warned that they intend to review the creditworthiness of all the Eurozone countries in the first quarter. Stocks are falling while Treasury bonds and mortgage backed securities are rallying. If this trend continues, we could see mortgage rates test their all-time lows later in the week.
Are you looking to refinance your mortgage? Are you buying a new home? Total Mortgage has some of the lowest mortgage rates and fastest closing times in the industry, and we may be able to help you save a lot of money on your monthly home payments.
To learn more about our products and rates, give us a call now at 877-868-2503. Our pre-approval process is fast and free, and can be completed over the phone. We want to be your partner in the mortgage industry. Call 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 12, 2011. Call 877-868-2503 for more details.***
Today’s Links:
Barry Ritholtz: Beware the retail hype. A follow-up to his piece on Black Friday.
Dave Dayen: Court cases revealing massive fraud in mortgage business. This is nothing new. The question is, what do we do about this?
NYT/Dealbook: A romance with risk that brought on a panic. More on the Corzine/MF Global mess.
Paul Krugman: Depression and democracy.
Bloomberg: Outlook for Euro darkens on summit, ECB policy.
Reuters: Euro zone fiscal pact fails to restore confidence. It’s hard to have confidence in the Euro zone when several of its members are most likely totally insolvent with few hopes of digging out.
Calculated Risk: European bond yields rising. Rising borrowing costs are the inevitable result of the lack of confidence.
Foreign Policy: The Merkelization of Europe.
Washington Post: The real unemployment rate is 11 percent. The same article says that the real underemployment rate (U-6) is probably around 20 percent. I believe it.
NYT: Billionaire and ex-minister to oppose Putin in Russian presidential election. So, the owner of the New Jersey Nets is running for Russian president. Strange.
* 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.
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