Current Mortgage Rates for Tuesday, November 15, 2011

The bonds of many European countries are getting crushed today, and spreads are widening in relation to German bonds.  New governments in Greece and Italy are not reassuring the markets that those countries will not ultimately default on their debt (and with good reason – they probably will).  Additionally, yields on Spanish bonds are surging, and French debt issues are getting annihilated.  This situation is seemingly getting worse by the day, and I don’t see German Prime Minister Angela Merkel riding to the rescue.

U.S. economic data this morning was slightly favorable, and that may offset some of the bad news coming out of Europe, although any bounce will likely be short-lived as the Congressional “supercommittee” on debt is apparently having difficulty reaching an agreement (I know, I know, you’re as shocked as I am that Congress is having trouble reaching an agreement).

Anyway, it appears likely that mortgage rates will remain largely unchanged today.  If you are looking for a mortgage for a home purchase, or to refinance your current mortgage, Total Mortgage may be able to help.  We offer some of the lowest mortgage rates in the country, and are known for being able to close your mortgage quickly.  Call us today at 877-868-2503 to speak with one of our licensed mortgage professionals about our rates or products.  Start saving money today.   

Some of Our Rates and Products*:

***Mortgage rates change constantly.  The below rates were quoted at 1:01 P.M., on November 15, 2011.  Call 877-868-2503 for more details.***

Today’s Links:

Bloomberg: U.S. retail sales rise, beat forecast on electronics gains. U.S. economic numbers of late have been somewhat better.  Still the most important number, unemployment, does not budge.

Calculated Risk: SF Fed: recession odds in 2012 are greater than 50% due to European crisis. This is the counterbalance to a slight uptick in retail sales.

NYT: Police clear Zuccotti park of protestors.  150+ arrested and the numbers keep rising.

Business Insider: NYC judge says occupy protestors can come back and bring their tents.

Bloomberg: Stocks fall as Spanish yields, French risk climb. The Dominoes are continuing to fall.

Irish Times: Greek conservatives stance threatens bailout. So the new Greek government isn’t a fan of austerity measures either.

The Economist via Barry Ritholtz: Euro-area government gross debt. This is why the Dominoes are falling.

NYT: Bank excuses on foreclosures growing stale.  Seems like just about everyone is fed up with sloppy foreclosures: Justice Catherine M. Bartlett of the New York State Supreme Court: “Bank of America got a bailout, and this is an outrage, how this man has been trated”.

Housing Wire: BofA mired in billions of mortgage litigation.  That Countrywide acquisition is really working out, isn’t it?

Los Angeles Times: Homeowners, beware of firms charging a fee for mortgage help. There’s a lot of people out there who would prey upon the desperate.

Mike Konczal: Youth unemployment in United States in line with Arab spring countries.

* 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 in the country.