Once again fear (of recession and debt) is causing volatility in global financial markets. Yesterday stocks dipped while treasury bonds and mortgage backed securities rallied, causing mortgage rates to once again test their record lows.
Thirty-year fixed-rate mortgages are the most common type of mortgage in the United States because they offer the long term stability of consistent principal and interest payments combined with relatively low monthly payments. While a borrower will end up paying more interest over the life of a 30 year mortgage than a shorter term mortgage, many people opt for the more affordable monthly payments,
For the second time in as many weeks, Total Mortgage is able to offer 30-year fixed rate mortgages at the rate of 3.990% with an APR of 4.143%. Click here to apply for this low rate.
The last time this happened, we were only able to offer this low rate for a couple of days. It is anyone’s guess how long it will last this time. If you’ve been thinking about refinancing your current mortgage or purchasing a new home, now is the time to lock in this ultra-low rate. Our pre-approval process only takes minutes over the phone. Call us today at 877-868-2503 to speak with one of our licensed mortgage professionals. Don’t hesitate, savings await.
Mortgage rates are always changing. All rates were quoted at 9:27 A.M., on September 7, 2011.
*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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