It’s Wednesday, and the weather is getting warmer as the spring home-buying season begins. If you’re looking for a home this spring (or if you’re looking to refinance your current mortgage), take a couple of minutes to check out the mortgage rates that are available today. If you’re really serious about buying a home, you should consider getting pre-approved for a mortgage. Pre-approval shows sellers that you are credit-worthy and can give you a leg up on other bidders. In order to find out more about our rates, products, or the pre-approval process, call one of our mortgage professionals today at 877-868-2503.
On this day in 1944, the U.S. Army began a nine day defense of Hill 700 in Bougainville.
News Roundup:
Negative equity in the United States is increasing.
The backlash against MERS and foreclosures continues.
Many homeowners are unaware of foreclosure prevention programs.
43% of California short sales under contract end up falling through.
Details on the foreclosure settlement are beginning to emerge.
Link of the Day:
Yves Smith doesn’t mince words when it comes to the proposed mortgage settlement.
Our Rates:
Fixed rate mortgages are the most popular type of mortgage in the United States because they allow borrowers to lock in today’s rates for many years to come. 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 3.875% interest rate and 4.081% APR.
FHA mortgages are great for first time home buyers because they only require a 3.5% percent down payment. Qualified borrowers can get a 30 year fixed FHA mortgage at a 4.500% interest rate and 5.799% APR.
Adjustable rate mortgages are increasingly popular among those who missed out on all-time low mortgage rates back in the fall. Those who qualify can get a 5/1 conforming ARM at a rate of 3.125 percent and a 3.180 percent APR.
Jumbo mortgages are larger loan amounts that are generally associated with luxury homes or houses in high-priced areas. The threshold at which a mortgage is considered a jumbo loan varies by locality and is between $417,000 and $729,750. Presently, Total Mortgage is offering a 30 year fixed jumbo mortgage at 5.250% and 5.369% APR and a 15 year fixed jumbo mortgage at a 4.125% rate and 4.323% APR.
Mortgage rates are always changing. All rates were quoted at 8:15 A.M., on March 9, 2011.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.625% | 4.746% |
| 15 Year Fixed Conventional | 3.875% | 4.081% |
| 30 Year Fixed FHA | 4.500% | 5.799% |
| 30 Year Fixed Jumbo | 5.250% | 5.369% |
| 5/1 Conforming ARM | 3.125% | 3.180% |
| 5/1 Jumbo ARM | 3.375% | 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.
Loading ...
RSS feed for comments on this post.
Leave a comment