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  1. Compare Mortgage Rates -30-year Fixed and 15-year Fixed

    By on August 31, 2010

    Compare Mortgage RatesAccording to Freddie Mac, a government controlled firm that has been monitoring mortgage rates since 1971, mortgage rates have hit historical lows. If you have been planning long to buy a house, this is a great time to shop for  mortgage rates. We at Total Mortgage offer some of the lowest mortgage rates in the country. If you are a first-time home-buyer or want to refinance your current loan, Total Mortgage is here to help you out with some of our best mortgage rates.

    Currently at Total Mortgage a 30 year fixed conventional mortgage rate is available at 4.125% (4.323% APR). A 20 year fixed mortgage is available at 4.000% (4.273% APR), and a 15 year fixed mortgage is available at 3.625% (3.972% APR).

    Some other popular mortgage products are 30 year fixed FHA available at 4.000% (5.178% APR), 5/1 ARM conforming mortgage available at 2.875% (2.638% APR), and a 5/1 ARM jumbo mortgage available at 3.625% (3.657% APR).

    This is a great time to refinance your mortgage loan. For example, let us assume you have a loan amount of $500,000 with a rate of 5.5% for a 30 year fixed rate, your monthly payment would be $2,838.95. If you decide on our low 4.125% mortgage rate for 30 year fixed for the same loan amount, your monthly payment would be $2,423.25 saving you a total of $415.70 each month. Overall you could be saving $149,650 with the second loan throughout the span of your loan. Call us to discuss on details how this scenario will work for you.

    Likewise, with a 15 year fixed rate for the same loan amount at a rate of 4.5% compared to our rate of 3.625% your monthly payment would come to $3824.97 with the first loan and $3,605.18 with the second  loan, saving you $219.79 per month. You could save $39,506.88 with the second loan over the length of your loan. Call us to discuss details on how this scenario will work for you.

    For more information on our mortgage rates and mortgage products available please call 877-868-2503 to speak with a licensed mortgage professional immediately.

    *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.

    Category: Mortgage Rates

  2. Record Low Mortgage Rates According to Freddie Mac

    By on July 29, 2010

    Freddie Mac Reports Record Low Mortgage RatesMortgage rates fell to record lows last week, according to Freddie Mac. This marks the sixth consecutive week that Freddie Mac has reported record low mortgage rates for fixed rate mortgages.

    Freddie Mac is reporting the average mortgage rate for a 30 year mortgage is 4.54 percent for the week ending July 22. This is down .02 percent from the previous week when the average rate was 4.56. At this point in time last year the average mortgage rate for a 30 year mortgage was 5.25 percent, over .7 percent higher. Continue Reading…

    Category: Mortgage Rates

  3. Mortgage Rates Remain Low After National Average Drops

    By on June 11, 2010

    The lowest mortgage rates of 2010 continue to hold their ground at Total Mortgage Services, LLC Friday morning, as the national average on the 30-year fixed mortgage rate fell to its lowest point of 2010 last week and is within reach of dipping to a record-low number. The national average on the 15-year fixed-rate fell to an all-time record last week.

    At Total Mortgage, the 30-year fixed conventional mortgage is still at a 4.375 percent rate and 4.583 percent APR, and the 15-year fixed conventional mortgage is coming across at a 3.875 percent rate and 4.236 percent APR.

    According to yesterday’s Freddie Mac report, the national average rate on 30-year fixed conventional mortgages fell to 4.72 percent from last week’s 4.79 percent rate. That is the lowest rate since the week ending Dec. 3, 2009, when it hit a record low of 4.71 percent. Freddie Mac also reported that the 15-year fixed-rate mortgage averaged 4.17 percent, down from last week’s 4.20 percent rate, and it is the lowest on record since Freddie Mac started tracking that mortgage type in August 1991.

    On the economic front, a rally in the Euro propelled stocks sharply higher and bonds lower on Thursday. The Euro jumped from 1.197 to 1.212.  We could see a bit of a reversal in stocks this morning after disappointing retail sales numbers indicate a considerable slump in consumer spending.

    Current mortgage rates are updated daily on Total Mortgage’s website, and mortgage rate and industry news and insight is published on the Total Mortgage blog.

    At 9:30 a.m. on June 11, 2010, the following mortgage rates were being offered at Total Mortgage:

    Loan Type Rate APR
    30-Year Fixed Conventional 4.375% 4.583%
    20-Year Fixed Conventional 4.250% 4.535%
    15-Year Fixed Conventional 3.875% 4.236%
    30-Year Fixed FHA 4.250% 5.178%
    30-Year Fixed Jumbo Mortgage 5.250% 5.463%
    15-Year Fixed Jumbo Mortgage 4.000% 4.352%
    5/1 ARM Conforming Mortgage 3.125% 3.547%
    5/1 ARM Jumbo Mortgage 3.500% 3.265%
    1/1 ARM Conforming Mortgage (0 Points) 3.150% 3.922%
    1/1 ARM Jumbo Mortgage (0 Points) 3.150% 3.794%

    For a complete offering of mortgage rates and mortgage products visit TotalMortgage.com for additional information.

    * 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.

    Category: Mortgage Rates

  4. Mortgage Rates At Total Mortgage Unchanged Despite Slight National Increase

    By on June 3, 2010

    Mortgage rates remain unchanged this morning at Total Mortgage Services, LLC despite a slight up-tick in the national average of fixed-rate mortgages.

    Bankrate announced this morning that the average rate on a 30-year fixed mortgage climbed this week to 4.95 percent this week from 4.92 percent average of the previous week. Additionally, average 15-year fixed mortgage increased to 4.36 percent from 4.34 percent. Adjustable rate mortgages were mixed, with the average 1-year ARM rising to 4.91 percent while the average 5-year ARM fell to 4.21 percent.

    “Nervous investors and tenuous financial markets kept a lid on mortgage rates,” Bankrate said. “Although the Federal Reserve is expected to leave short-term interest rates low for the time being, evidence of continued improvement in the U.S. economy will eventually lead to higher mortgage rates as the year progresses.”

    On the economic front, stocks climbed higher Wednesday, while bonds inched lower, and the Euro was also higher. Strong data on April home sales and new vehicle sales helped support the market surge. As the week moves ahead, keep an eye on employment numbers and jobless figures for a barometer on market direction.

    At Total Mortgage, the 30-year fixed mortgage held steady at a 4.375 percent rate and 4.583 percent APR, and the 15-year fixed mortgage also stayed firm at a 3.875 percent rate and 4.236 percent APR. Additionally, the 30-year fixed FHA was being listed at 4.250 percent rate and 5.178 percent APR, and the 30-year fixed jumbo is offered at 5.250 percent and 5.463 percent APR.

    Total Mortgage lists some of the lowest current mortgage rates on fixed-rate mortgages, FHA mortgages, jumbo mortgages and adjustable rate mortgages (5/1 ARM and 1/1 ARM). Current mortgage rates are updated regularly on TotalMortgage.com, and daily insight on mortgage and financial news can be found at the Total Mortgage blog.

    At 9:50 a.m. on June 3, 2010, the following rates were being offered at Total Mortgage:

    Loan Type Rate APR
    30-Year Fixed Conventional 4.375% 4.583%
    20-Year Fixed Conventional 4.250% 4.535%
    15-Year Fixed Conventional 3.875% 4.236%
    30-Year Fixed FHA 4.250% 5.178%
    30-Year Fixed Jumbo Mortgage 5.250% 5.463%
    15-Year Fixed Jumbo Mortgage 4.000% 4.352%
    5/1 ARM Conforming Mortgage 3.125% 3.547%
    5/1 ARM Jumbo Mortgage 3.500% 3.265%
    1/1 ARM Conforming Mortgage (0 Points) 3.150% 3.922%
    1/1 ARM Jumbo Mortgage (0 Points) 3.150% 3.794%

    For a complete offering of mortgage rates and mortgage products visit TotalMortgage.com for additional information.

    * 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.

    Category: Mortgage Rates

  5. Mortgage Rates Open Low Tuesday At Total Mortgage

    By on May 18, 2010

    There has been no movement in mortgage rates today from yesterday, though some reports anticipate rates are due to rise, including yesterday’s economic outlook by Fannie Mae.

    Bond prices fell however slightly yesterday as trading was reasonably quiet. April’s housing starts, released this morning, came in better than expected.

    Late last week at Total Mortgage Services, LLC, the 30-year fixed conventional fell from 4.500 percent to 4.375 percent. Additionally, the 20-year fixed conventional dipped from 4.375 percent to 4.250 and the 15-year fixed conventional fell from 4.000 percent to 3.875 percent.

    The 30-year fixed FHA was lowered this past week to 4.250 percent from 4.375 percent.

    There has not been any recent movement in the 30- and 15-year fixed jumbo mortgages, nor the 5/1 ARM conforming or 5/1 ARM jumbo mortgage.

    Total Mortgage Services, LLC is listing some of the lowest current rates on 30-year fixed-rate mortgages, FHA mortgages, jumbo mortgages and adjustable-rate mortgages. Current mortgage rates are updated continuously on Total Mortgage’s website, in addition to daily insight and perspective on mortgage industry news and trends.

    As of 9:20 a.m. on May 18, 2010, the following rates were listed at Total Mortgage:

    30-Year Fixed Conventional 4.375% Rate, 4.583% APR

    20-Year Fixed Conventional 4.250% Rate, 4.535 APR

    15-Year Fixed Conventional 3.875% Rate, 4.236% APR

    30-Year FHA 4.250% Rate, 5.178% APR

    30-Year Fixed Jumbo Mortgage 5.125% Rate, 5.336% APR

    15-Year Fixed Jumbo Mortgage 4.000% Rate, 4.352% APR

    5/1 ARM Conforming Mortgage 3.000% Rate, 3.367% APR

    5/1 ARM Jumbo Mortgage 3.500% Rate, 3.291% APR

    For a complete listing of rates and mortgage products visit TotalMortgage.com.

    * 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.

    Category: Mortgage Rates

  6. Mortgage Rates Update For Friday, May 14 From Total Mortgage

    By on May 14, 2010

    The market proved to be volatile Thursday, but bond prices closed up. While mortgage rates remain extremely low – and may even inch lower today – the financial reform bill continues to progress on the floor of the Senate.

    Current mortgage rates are updated continuously on Total Mortgage’s website, in addition to daily insight and perspective on mortgage industry news and trends.

    As of 9:30 a.m. on May 14, 2010, the following rates are available at Total Mortgage:

    30-Year Fixed Conventional 4.375% Rate, 4.583% APR

    30-Year FHA 4.250% Rate, 5.178% APR

    30-Year Fixed Jumbo 5.125% Rate, 5.336% APR

    5/1 ARM Conforming Mortgage 3.000% Rate, 3.367% APR

    For a complete listing of rates and mortgage products visit TotalMortgage.com.

    Also in the News:

    Federal Reserve Vice Chairman Weighs in on Interest Rates

    Senate Votes To Outlaw Deceptive and Predatory Lending Practices

    HUD Unveils New Plan For Sustainable, Affordable Housing

    * 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.

    Category: Mortgage Rates

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