It’s Friday, the end of another long snow-filled week. Before you go over your Super Bowl prop sheet, take a couple of minutes to check out the low mortgage rates we’re posting at Total Mortgage this morning. According to Freddie Mac, mortgage rates have now increased for three straight weeks. Despite this, Total Mortgage consistently offers rates beating the national average. Call us today at 877-868-2503 and find out if one of our certified mortgage professionals can save you money on your home purchase or mortgage refinancing.
On this day in 1945, Churchill, Roosevelt, and Stalin met at the Yalta Conference.
News Roundup:
Unemployment fell to 9% in January, however the economy only added 36,000 jobs, far less than the 146,000 that were projected. A lot of people must have simply stopped looking for work. Not a good report.
According to Freddie Mac, mortgage rates rose for the third straight week last week.
The Federal Reserve delayed several mortgage regulatory reforms earlier in the week.
Link of the Day:
“A Death-Defying Commute” from Joshua Foer of Slate. You have to see these Peruvians zip line 1,200 feet in the air over a jungle ravine in order to get to work. Insanity.
Our Rates:
Fixed rate mortgages are popular with borrowers because they allow people to lock in today’s mortgage rates long into the future. Right now rates are close to historical lows, and most analysts predict they will rise in the near future. If this is the case, those who locked in now will be thanking themselves in the future. If you qualify, you can get a 30 year fixed rate mortgage at a 4.375% mortgage rate with 4.581% APR. A 15 year fixed rate mortgage is available at a 3.750% interest rate and 4.106% APR.
Adjustable rate mortgages can offer tremendous savings to the right type of borrower, particularly those who intend to stay in their home for a short period of time or those who intend to quickly pay off their mortgage. Those who qualify can get a 5/1 conforming ARM at a rate of 2.750 percent and a 3.122 percent APR.
FHA mortgages are an excellent way for first time home buyers to break into the housing market because they only require a down payment of 3.5 percent. Qualified borrowers can get a 30 year fixed FHA mortgage at a 4.375% interest rate and 5.775% APR.
Jumbo mortgages are larger loans that are often associated with luxury homes or houses in very expensive markets. Currently, Total Mortgage is offering a 30 year fixed jumbo mortgage at 5.125% and 5.334% APR and a 15 year fixed jumbo mortgage at a 3.750% rate and 4.097% APR.
Mortgage rates are always changing. All rates were quoted at 8:45 A.M., on February 4, 2011.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.375% | 4.581% |
| 15 Year Fixed Conventional | 3.750% | 4.106% |
| 30 Year Fixed FHA | 4.375% | 5.775% |
| 30 Year Fixed Jumbo | 5.125% | 5.334% |
| 5/1 Conforming ARM | 2.750% | 3.122% |
| 5/1 Jumbo ARM | 3.125% | 3.077% |
For more information on our current mortgage rates and mortgages products call 877-868-2503 today, to speak with a licensed mortgage professional.
*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.
Loading ...
RSS feed for comments on this post.
Leave a comment