It is Saturday, and hopefully you are enjoying a well-deserved day off. We are hard at work bringing you some of the lowest mortgage rates in the industry. Rates have declined for the last two weeks, so now may be a good time to lock in a low rate. Speak with one of our licensed mortgage professionals at 877-868-2503 for up to the minute rate quotes or to learn about our many mortgage products.
On this day in 1815, Napoleon escaped from Elba. He was later seen in San Dimas.
Our Rates:
Fixed rate mortgages are a great way for borrowers to lock in today’s low mortgage rates far into the future with relatively little risk because fixed rate mortgages rarely contain prepayment penalties. Qualified borrowers can get a 30 year fixed rate mortgage at a 4.625% mortgage rate with 4.746% APR. A 15 year fixed rate mortgage is available at a 4.125% interest rate and 4.333% APR.
FHA mortgages are extremely popular due to their low down payment requirements. The FHA only requires a 3.5 percent downpayment, compared to 20% or more from traditional sources of financing. Qualified borrowers can get a 30 year fixed FHA mortgage at a 4.625% interest rate and 5.918% APR.
Adjustable rate mortgages are enjoying a resurgence in popularity of late. Many that missed out on this fall’s record low rates are exploring 5/1, 7/1, and even 10/1 mortgages because of their low initial rates. Those who qualify can get a 5/1 conforming ARM at a rate of 3.375 percent and a 3.261 percent APR.
Jumbo mortgages are large mortgage loans that are not eligible for purchase by Fannie Mae or Freddie Mac. The threshold for these loans varies by locality and is between $417,000 and $729,750. Presently, Total Mortgage is offering a 30 year fixed jumbo mortgage at 5.375% and 5.495% APR and a 15 year fixed jumbo mortgage at a 4.375% rate and 4.575% APR.
Mortgage rates are always changing. All rates were quoted at 8:15 A.M., on February 26, 2011.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.625% | 4.746% |
| 15 Year Fixed Conventional | 4.125% | 4.333% |
| 30 Year Fixed FHA | 4.625% | 5.918% |
| 30 Year Fixed Jumbo | 5.375% | 5.495% |
| 5/1 Conforming ARM | 3.375% | 3.261% |
| 5/1 Jumbo ARM | 3.500% | 3.315% |
For more information on our current mortgage rates and mortgages products call 877-868-2503 today, to speak with a licensed mortgage professional.
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