Quick update:
Freddie Mac released their Primary Mortgage Market Survey this morning. Fixed rates were down for the fifth straight week last week, with the 30-year fixed rate mortgage declining from 4.63% to 4.61%. The average 15-year fixed rate mortgage fell from 3.82% to 3.80%. Adjustable rates were actually up slightly, with the 5/1 ARM increasing from 3.41% to 3.48%, while the 1-year ARM went from 3.11% to 3.15%.
Mortgage rates are now at their lowest point in 2011. Rates hit their all-time lows last November when the 30-year fixed mortgage was at 4.17%. The recent drop in rates has caused a mini-refinance boom, as many people who missed out on refinancing last fall are doing so now.
Total Mortgage is known for having some of the lowest mortgage rates in the industry, consistently beating the national average while demonstrating a commitment to customer service. Call us today at 877-868-2503 and see what a difference Total Mortgage makes.
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