Today’s Mortgage Rates for Sunday, January 30, 2011

I hope everyone is having a fine weekend and trying not to think about going back to work tomorrow.  You may be off, but we are still here, working to bring you the lowest mortgage rates we possibly can.  Rates have been up the last two weeks, but it is not too late to save a lot of money on your home purchase or mortgage refinance with Total Mortgage.  Give us a call at 877-868-2503 for up to the minute rate quotes and advice from one of our certified mortgage professionals.

Our Rates:

Fixed rate mortgages are exceedingly popular in the United States because they allow a borrower to shift much of the interest rate risk involved with a long term loan to the lender.  When rates eventually rise, those who locked in now will be happy that they took advantage of near historically low rates.  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 offer borrowers in the right situation the opportunity to save a lot of money compared to a fixed rate loan.  ARMs have a set mortgage rate for a period of time, after which they adjust depending upon market conditions.  Those who only intend to stay in their home for a short duration may save a lot of money with an ARM.  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 only require a 3.5 percent down payment, which makes them incredibly attractive to first time home buyers and those with good credit but limited means for a down payment. Qualified borrowers can get a 30 year fixed FHA mortgage at a 4.375% interest rate and 5.775% APR.

Jumbo mortgages are generally necessary for larger houses where the loan size exceeds the conforming limit of $417,000 to $729,750 depending upon your location.  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 8:50 A.M., on January 30, 2011.

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.