Total Mortgage is currently posting some of the lowest mortgage rates in the nation. With mortgage rates near historic lows borrowers should act quickly before it’s too late. These low rates create great opportunities for borrowers who are considering refinancing an existing mortgage or buying a home.
A 30 year fixed conventional mortgage is currently available with a 4.125 percent mortgage rate and a 4.323 percent APR. The mortgage rate for a 15 year fixed conventional mortgage is 3.625 percent and has a 3.972 percent APR.
Another popular fixed rate mortgage is an FHA mortgage. Currently a 30 year fixed FHA mortgage has a 4.000 percent mortgage rate and a 5.178 percent APR. A 30 year fixed jumbo mortgage has a 4.875 percent mortgage rate and a 5.098 percent APR.
Adjustable rate mortgages (ARM) have very low initial interest rates but after the initial period mortgage rates will fluctuate based on market conditions. A 5/1 conforming ARM currently has a 2.875 percent mortgage rate and a 2.638 percent APR. A 5/1 jumbo ARM is currently available with a mortgage rate of 3.625 percent and a 3.657 percent APR.
Current mortgage rates are changing constantly; all rates were quoted at 9:45 a.m. on August 10, 2010.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.125% | 4.323% |
| 15 Year Fixed Conventional | 3.625% | 3.972% |
| 30 Year Fixed FHA | 4.000% | 5.178% |
| 30 Year Fixed Jumbo | 4.875% | 5.098% |
| 5/1 Conforming ARM | 2.875% | 2.638% |
| 5/1 Jumbo ARM | 3.625% | 3.657% |
For a complete list of the mortgage rates and mortgage products available at Total Mortgage call 877-868-2503 to speak with licensed mortgage expert immediately!
*All rates shown are for 30 day rate locks. Longer locks available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 2 points, a $495 application fee, $500 loan processing 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, $500 loan processing 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, $500 loan processing 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 and are subject to mortgage approval. All rates are subject to change without notice.
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