Stocks took a beating again yesterday, and mortgage rates once again set record lows. The markets are increasingly jittery about the soundness of European mega-banks’ balance sheets and the viability of the Eurozone as a whole. Despite the general financial uncertainty, now is an excellent time to refinance your mortgage or lock in a low rate for the purchase of a new home. Rates haven’t been this low in more than 60 years, and there is no telling when they may start to rise. To get pre-approved for a home loan, or to find out more about our rates, call one of our licensed loan officers today at 877-868-2503.
Some of Our Rates and Products:
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional Mortgage | 3.990% | 4.143% |
| 15 Year Fixed Conventional Mortgage | 3.250% | 3.517% |
| 30 Year Fixed FHA Mortgage | 3.750% | 5.092% |
| 30 Year Fixed Jumbo Mortgage | 4.875% | 4.992% |
| 5/1 Conforming ARM Mortgage | 2.500% | 2.951% |
| 5/1 Jumbo ARM Mortgage | 2.750% | 3.038% |
***Mortgage are always changing. The below rates were quoted at 1:05 P.M., on September 20, 2011. Call 877-868-2503 for more details.***
Today’s Links:
LA Times: Fed expected to announce new bond-buying program today.
Washington Post: S&P cuts Italy’s credit rating. What took so long?
NY Times: Greece nears the precipice.
Bloomberg: U.S. housing starts hit three-month low.
Housing Wire: FHFA changes may boost private mortgage insurance.
Pro Publica: On the inscrutability of bank data.
* 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, two points, 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, two points, 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 720 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.
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