Are you trying to save money on your home payments? If you have yet to refinance your present mortgage, you could be missing out on hundreds or thousands of dollars in savings. Mortgage rates improved somewhat over the last two days after rising for most of the previous two weeks. Despite the increase, borrowing rates are still very close to all-time lows. If you’re purchasing a new home, you can get pre-approved for a home loan with Total Mortgage for free over the phone. Call us today at 877-868-2503 and speak with one of our licensed mortgage professionals about our rates and products. We will help you come up with a lending solution that fits your needs. Begin saving today.
Some of Our Rates and Products*:
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional Mortgage | 3.875% | 4.027% |
| 15 Year Fixed Conventional Mortgage | 3.250% | 3.517% |
| 30 Year Fixed FHA Mortgage | 3.750% | 5.092% |
| 30 Year Fixed Jumbo Mortgage | 4.875% | 4.992% |
| 5/1 Conforming ARM Mortgage | 2.500% | 2.951% |
| 5/1 Jumbo ARM Mortgage | 2.750% | 3.038% |
***Mortgage rates are always in flux. The below rates were quoted at 1:10 P.M., on October 18, 2011. Call 877-868-2503 for more details.***
Today’s Links:
Naked Capitalism: Delaware AG Beau Biden on investigating the mortgage mess. Video link.
WSJ: Mass strike shuts Greece down. Yeah, this austerity plan is going to work great.
Bloomberg: U.S. needs second productivity miracle in 15 years. So I guess we are counting on miracles now? Sound plan.
Calculated Risk: Mortgage purchase application index at lowest level since 1996. Refinance applications plummeted 16.6 percent last week, purchase index down 8.8 percent.
NY Times: Gloom grips consumers, and it may be home prices.
Washington Post: Ghost of Lehman Brothers haunts European politicians and bankers.
Reuters: Moody’s cuts Spain by 2 notches, sees funding risks. I expect we will see a lot more credit rating slashes in the coming weeks and months.
* 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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