The Eurodebt contagion continues to spread, as bond yields in Germany spiked following a terrible auction yesterday. There are reports that Belgium may need an additional $120 billion from France to bailout the Belgian-French bank Dexia. To top it off, Fitch Ratings warned that France could be on the brink of losing its AAA credit rating. Things are starting to spiral out of control and rather than taking concrete steps to improve the situation, the Europeans are reverting to their centuries old habit of squabbling with one another. As a result of all this and other factors, stocks are down again in early trading.
If this trend continues, we should see mortgage rates hold steady or improve slightly today. If you’re looking for a new home or are thinking about refinancing your mortgage, we might be able to help you save a lot of money on your monthly payments. We have some of the lowest rates in the mortgage industry and are known for our quick turn times. Give us a call today at 877-868-2503 for more information about rates, products, or getting pre-approved for a home loan.
Some of Our 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 | 4.500% | 4.600% |
| 5/1 Conforming ARM Mortgage | 2.750% | 2.711% |
| 5/1 Jumbo ARM Mortgage | 2.875% | 2.695% |
***Mortgage rates change frequently. The above rates were quoted at 12:45 P.M., on November 23, 2011. Call 877-868-2503 for more details.***
Today’s Links:
NY Times: Fate of Euro may hinge on Italian savers.
Reuters: States moving on smaller U.S. mortgage probe deal. Massachusetts, Arizona, Nevada, California, New York, and Delaware are conducting their own investigations, which makes any sort of deal unlikely, no matter what the PR says.
Ritholtz: Banks pressing for foreclosure settlement before investigation. BR weighs in.
WSJ: Disaster planning: banks ponder Euro-zone split. This scenario looks more and more likely to me.
NY Times: Renewed concerns about growth and debt weigh on stocks.
Department of Labor: Weekly unemployment claims tick up 2,000 to a pace of 393,000. Treading water.
Bloomberg: European bond risk climbs to record.
Reuters: “Disastrous” bond sale shakes confidence in Germany. The contagion is spreading to core Eurozone countries.
Credit Slips/Adam Levitin: Soured on Saurman. The professor takes that Michigan Supreme Court to task for their recent ruling on MERS.
Mike Konczal: Eight things we know about extending unemployment insurance. The case for extending unemployment insurance.
* 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