Mortgage Rates are Falling – Refinance Now and Save

Mortgage rates are falling according to Freddie Mac’s Primary Mortgage Market Survey.  Rates for 30 year fixed rate mortgages and 15 year fixed rate mortgages fell to 4.76 percent and 3.97 percent respectively.  If you’ve been waiting for rates to fall in order to refinance, now could be your opportunity.

Borrowers can save substantial amounts of money in their monthly payments and over the life of their loan by refinancing into a mortgage with a lower interest rate.  Refinancing also enables borrowers to change their mortgage from an adjustable-rate mortgage to a fixed-rate mortgage or vice versa, depending upon which scenario is the most beneficial.

Total Mortgage is known across the industry for having some of the best mortgage rates available.  We also offer a wide range of mortgage products to meet the unique needs of nearly every kind of borrower.

We offer qualified borrowers 30-year fixed-rate mortgages at a rate of 4.625% with 4.746% APR. 15-year fixed-rate mortgages are available at an interest rate of 4.375 % with a 4.539% APR.

Total Mortgage also specializes in FHA mortgages, adjustable rate mortgages, and jumbo mortgages.  For qualified borrowers, a 30-year FHA mortgage is available at a 4.500% rate and 5.799% APR. A 30 year fixed jumbo mortgage is available at a 5.250% mortgage rate and 5.369% APR and a 5/1 adjustable rate mortgages are available at a 3.125% interest rate and 3.180% APR.

For more information on refinancing options and our current mortgage rates, please call us 877-868-2503 to speak with a licensed mortgage professional today!

Mortgage rates are always changing. All rates were quoted at 2:30 P.M., on March 17, 2011.

* 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, one point, 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, one point, 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 740 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.