Do you want to save on your mortgage? Mortgage rates have been falling amid extreme market volatility spurred by bad economic reports and rioting in Greece. Rates are approaching historic lows, and by locking your rate now you could save yourself money for years into the future. Our commitment to customer service, low rates, and responsible lending has allowed us to thrive in today’s tough mortgage market. Call one of our fully licensed mortgage professionals today to find out what sets us apart from the rest. Call 877-868-2503 to lock a low rate now.
Today is Bloomsday, the day on which the events in James Joyce's Ulysses occurred.
Today’s Links:
Housing starts were up a little bit in May.
Repossessions were down in May.
Greece is in turmoil, and there will be major repercussions for the markets.
Speaking of troubled EU countries, Ireland isn’t doing so great either. The Eurozone is a complete mess.
Six ways to fix the housing market from U.S. News and World Report.
Our Rates and Products:
Fixed rate mortgages allow borrowers to lock in today’s low rates for years to come, potentially saving thousands of dollars over the course of their loan. 30 year fixed rate mortgages are available today for qualified borrowers starting at the rate of 4.250% with an APR of 4.365%. 15 year fixed rate mortgages are going at a rate of 3.500% with an APR of 3.700%.
Adjustable rate mortgages are lower than they have been in months. If you’re going to be in your home for the short term, you could save some serious coin with an ARM. 5/1 ARMs are available at a rate of 2.750% and an APR of 2.595%.
The rates on jumbo mortgages are lower now than they have been for quite some time. 30 year fixed rate jumbo mortgages start at 5.125% with an APR of 5.228%. A 5/1 Jumbo ARM starts at 2.750% with and APR of 2.595%.
FHA mortgages are great for those with good credit but without a lot of money for a down payment because these loan only require a 3.5 percent down payment. 30 year fixed FHA mortgages are available at a rate of 4.250% with a 5.563% APR. Minimum down payments start at just 3.5%.
***Mortgage rates are always changing. All rates were quoted at 1:08 P.M., on June 16, 2011.***
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional Mortgage | 4.250% | 4.365% |
| 15 Year Fixed Conventional Mortgage | 3.500% | 3.700% |
| 30 Year Fixed FHA Mortgage | 4.250% | 5.563% |
| 30 Year Fixed Jumbo Mortgage | 5.125% | 5.228% |
| 5/1 Conforming ARM Mortgage | 2.750% | 2.595% |
| 5/1 Jumbo ARM Mortgage | 2.875% | 2.797% |
* 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.
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