Coming off of a huge economic day yesterday, Total Mortgage Services is posting some of the lowest mortgage rates in the nation. Total Mortgage offers an array of mortgage products that will fit all of your needs, regardless of whether you are refinancing a mortgage or buying a new home.
A 30 year fixed conventional mortgage is currently being offered with a 4.125 percent mortgage rate and a 4.323 percent APR. This is one of the most popular mortgage products Total Mortgage has to offer. Another popular mortgage is a 15 year fixed conventional mortgage, which has a considerably lower mortgage rate of 3.625 percent and a 3.972 percent APR.
Other popular fixed rate mortgages include jumbo and FHA loans. A 30 year fixed FHA mortgage is available with a 4.000 percent mortgage rate and a 5.178 percent APR. A 15 year fixed jumbo mortgage is currently being offered with a 4.000 percent rate and a 4.349 percent APR.
Adjustable rate mortgages (ARM) are attractive because they offer very low initial interest rates. A 5/1 conforming ARM is available with a 3.000 percent mortgage rate and a 3.481 percent APR. A 5/1 jumbo ARM has a 3.625 percent interest rate and a 3.657 percent APR.
Later today an important piece of housing data is set to be released. The National Association of Realtors is releasing its pending sales reports, which is expected to show that pending sales of U.S. homes rose in the month of June.
Mortgage rate are changing constantly; all rates were quoted at 9:25 a.m. on August 3, 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% |
| 15 Year Fixed Jumbo | 4.000% | 4.349% |
| 5/1 Conforming ARM | 3.000% | 3.481% |
| 5/1 Jumbo ARM | 3.625% | 3.657% |
For a complete list of Total Mortgage’s current mortgage rates and mortgage products call 877-868-2503 to speak with a licensed mortgage expert.
*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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