Total Mortgage has dropped mortgage rates significantly from earlier this week. Mortgage rates for select fixed jumbo mortgages and adjustable rate mortgages (ARM) have come down an eighth of a point. These reduced mortgage rates make it a great time to consider buying a home or refinancing an existing mortgage.
Earlier this week a 30 year fixed jumbo mortgage at Total Mortgage had a 5.000 percent mortgage rate and a 5.203 percent APR. Now, that same mortgage product has a 4.875 percent mortgage rate and a 5.098 percent APR. It has been a long time since Total Mortgage has offered a 30 year fixed jumbo mortgage with a mortgage rate below 5.000 percent.
5/1 conforming ARM’s have come down an eighth of a point as well. On Monday a 5/1 conforming ARM was available with a 3.000 percent mortgage rate and a 3.481 percent APR. Today, a 5/1 conforming ARM is available with a 2.875 percent mortgage rate and a 2.638 percent APR. I can’t remember the last time I saw a mortgage rate below 3 percent.
Mortgage rates are changing constantly: all mortgage rates were quoted at 10:45 a.m. on August 6, 2010. For more information on all of Total Mortgage’s current mortgage rates and mortgage products call 877-868-2503 to speak with a licensed mortgage expert immediately!
Loading ...
RSS feed for comments on this post.
Leave a comment