ARM | Mortgage Rates & Trends: Mortgage Blog

Mortgage Rates & Trends: Mortgage Blog

View the lowest rates we have to offer.

Read our RSS Feed Policy

Low Adjustable Rate Mortgages Available at Total Mortgage
By Staff on March 1, 2011

Many borrowers have taken advantage of the once again slipping down mortgage rates to purchase houses as well as refinance their existing mortgage loans. Depending on ever changing economic conditions, the low rates may climb up again, no one can predict. If you are planning to purchase a house or planning to reduce your monthly mortgage payment by refinancing your current mortgage loan to a lower rate and save thousands in the process, take action fast before rates go up again.

Total Mortgage is currently posting some of the lowest adjustable rate mortgages (ARMs). Currently, a 5/1 ARM conforming mortgage is available to qualified borrowers at a 3.375% interest rate with 3.261% APR.

Adjustable rate mortgages have initial low interest rates for a fixed period. Borrowers may save on interest payments because of the low initial interest rate. The low rate can also reduce the monthly payments and help borrowers qualify for a larger loan. After the fixed period for the low rate is over, rates for adjustable rate mortgages fluctuate depending on the market condition and hence, rates and payments may increase. Adjustable rate mortgages therefore may not be suitable to all types of borrowers.

Continue Reading…

Category: Mortgage Rates
Today’s Affordable Adjustable Rate Mortgages Available
By Staff on February 10, 2011

Adjustable rate mortgages (ARMs) as the name implies are mortgage loans with rates that adjust periodically after a certain period. Adjustable rate mortgages are popular among borrowers because of their low initial mortgage rates. Homeowners who plan to move out within the first 10 years of purchasing their homes may benefit from adjustable rate mortgages. They could potentially save thousands on interest payments with ARMs because of their low interest rates compared to fixed rate mortgages such as 30 year fixed rate mortgages which have higher mortgage rates. However, for borrowers who plan to stay for a longer term, adjustable rate mortgages may not be suitable for them because rates fluctuate after the completion of the initial period which may go up, increasing monthly mortgage payments. Adjustable rate mortgages are hence considered riskier than fixed rate mortgages in which borrowers do not have to worry about their rates changing, as rates for fixed rate mortgage are constant for the life of the loan.

Continue Reading…

Category: Mortgage Rates
5/1 ARM Conforming Mortgages Available at 2.500%
By Staff on January 18, 2011

Mortgage rates are currently near historical lows, making it a great time to refinance your existing mortgage or purchase a new home. So if you’re on the fence, act now before rates increase. At Total Mortgage, we have some of the lowest mortgage rates in the industry. We offer a wide variety of mortgage products to meet the needs of many different kinds of borrowers.

If you are planning to purchase a house as an investment property or to live in for the short term, an adjustable rate mortgages (ARMs) could be the right type of home loan for you. ARMs have a low fixed interest rate for an initial period of time after which the interest rate fluctuates based upon current market conditions. The low initial rates can offer significant savings over fixed rate mortgages for certain types of borrowers.

Continue Reading…

Category: Mortgage Rates
Low Adjustable Rate Mortgages Available at Total Mortgage
By Staff on January 13, 2011

Recently we have seen mortgage rates almost on a roller coaster ride with rates climbing up a few weeks back and again climbing down for the past two weeks. Rates are definitely unpredictable and declining rates can go up without any warnings. Total Mortgage is one of the leading mortgage lenders in the U.S. who has continuously offered some of the lowest mortgage rates in the industry. Total Mortgage has a wide variety of mortgage products available to meet every borrower’s individual needs.

Currently, Total Mortgage has posted some of the most competitive rates for all its mortgage products. Many borrowers opt for adjustable rate mortgages to purchase houses as well as to refinance their existing mortgages. Adjustable rate mortgages (ARMs) are popular due to their low interest rates compared to other mortgage products. However, these low rates are available only for a certain initial time frame and will adjust depending on the current market condition once the initial time frame has elapsed. This means the interest rate and mortgage payments can increase after the initial term has been completed and they are often considered riskier than fixed rate mortgages. Therefore, ARMs may not be suitable for all borrowers. These types of mortgages are often suitable for borrowers who plan to move out of their homes within the first 10 years of purchasing or those homebuyers who believe their income will increase in the future.

Continue Reading…

Category: Mortgage Rates
Today’s Mortgage Rates For Wednesday, December 29, 2010
By Michael Kling on December 29, 2010

Just a few days before the year is over, but you still have time to check out mortgage rates. Mortgage rates have dropped slightly after increasing over recent months, but remain unpredictable as always and may be increasing again. Before you start planning for your New Year’s resolution, take a minute to check today’s mortgage rates posted at Total Mortgage.

News Roundup:

The Conference Board’s index of consumer confidence dropped to 52.5 in December from 54.3 last month. A good economy is supposed to have a consumer confidence level of 90 or better.

Analysts had predicted that the confidence mark would rise to 55.8, so the results were somewhat disappointing. But the Conference Board, which puts out the consumer confidence figures, said the report was no big deal.

“Despite this month’s modest decline, consumer confidence is no worse off today than it was a year ago,” said Lynn Franco, director of the Consumer Research Center at the Conference Board. “Consumers’ assessment of the current state of the economy and labor market remains tepid, and their outlook remains cautious. Thus, all signs continue to suggest that the economic expansion will continue well into 2011, but that the pace of growth will remain moderate.”

Plus, consumer spending jumped 5.5 percent to $584 billion from Nov. 5 through Dec. 24 on strong holiday sales, according to MasterCard Advisors’ SpendingPulse. It was the best improvement since 2005.

The S&P Case-Shiller Index reported yesterday that home prices dropped in 18 markets in its 20-city index since last year, leading some to speculate that a housing market double-dip is upon us. But the drop could be temporary, and an improving general economy might begin boosting home prices in more markets next year. Scott Grannis, a former chief economist at Western Asset Management Company, is one of the experts who believe housing prices have fallen far enough to clear the market. You can read about his reasoning on housing market trends in his article posted on Seeking Alpha today.

Today’s Link:

The New York Times says mortgage rates may have hit bottom in this article.

Our Rates:

Continue Reading…

Category: Current Mortgage Rates, Mortgage Rates
Today’s Mortgage Rates For Monday, December 27, 2010
By Michael Kling on December 27, 2010

Mortgage rates dropped slightly today after climbing in recent months. The perception of an improving economy helped boost mortgage rates as investors moved money from super-safe Treasury bonds and into the stock market. A bit of good news on unemployment, or at least news not as bad as expected, and a tax-rate compromise between President Obama and Congressional Republicans helped improve investor sentiment.

The Federal Reserve’s quantitative easing plan to push down mortgage rates and rates for other loans by purchasing $600 billion in Treasury bond might also helped improve the economic outlook.

HSH Associates, a financial publisher, seems to sum up the feeling of many mortgage rate pundits, in its market trends analysis. “Warmer economic growth has been largely to blame for the increase in rates during the fall,” it stated. “But this increase has been exacerbated to a degree by the Federal Reserve’s stimulus program, some post-election improvement in moods and a tax compromise which lends some certainty (and a little boost) to the outlook as we roll into 2011.”

But don’t celebrate the return of good times just yet. The latest burst of optimism may be overdone. “While the economy is moving forward at a measured clip,” said HSH Associates, “there are few signals that it is powering ahead so forcefully that interest rates should rise much further than they already have, and they may have even overshot the mark, which is typical.”

News Roundup:

For people on the East Coast the major news today, economic or otherwise, was winter blizzard that smothered the region and kept many people home. Stock traders also stayed home, keeping stock trading volume low.

The latest economic news is China’s effort to control inflation by increasing interest rates. The People’s Bank of China announced that it will raise its lending rate by a quarter of a percent to 5.81 percent and lift the benchmark deposit rate by a quarter of a percent to 2.75 percent. That prompted stock values to slide today. The concern is that the Chinese rate hike as well as possible future rate increases will depress global demand around the world and hurt stock values. But that could, in turn, keep mortgage rates down if investors wait to buy stocks and keep their money in safer Treasury or mortgage bonds.

Our Rates:

Continue Reading…

Category: Current Mortgage Rates, Mortgage Interest Rates, Mortgage Rate Trends and Analysis, Mortgage Rates
Today’s Mortgage Rates for Wednesday, December 8, 2010
By Staff on December 8, 2010

On this day in 1980, John Lennon was murdered outside his New York City apartment by a crazed man inspired by an overrated book.

Hey now, it’s Wednesday, the work week is nearly half over. Instead of playing Angry Birds on your break, take a couple of minutes to check out the low mortgage rates we are offering at Total Mortgage today. Rates have been volatile lately, but we consistently are among the industry leaders in mortgage rates. Total Mortgage may be able to save you a lot of money on your mortgage refinancing or new home purchase today.

News Roundup:

The big news today is the fall out from President Obama’s tax deal with Republicans in Congress to extend the Bush tax cuts for all income levels for two years. Democrats, especially the more liberal ones in the House, are fuming. They’re angry about being left out of the talks and that the deal doesn’t increase estate taxes. Obama’s people argue that the deal prevents taxes for everyone from rising, but it looks like Obama was the first to blink in negotiations with Republicans.

In the Irish budget vote, European finance ministers officially approved bailout for Ireland yesterday. A European Union summit is supposed to come up with a long-term solution to the economic union’s overall debt crisis. The EU will lend Ireland 22.5 billion of eruos, but Ireland must reform it banking system and cut its government deficit. Many Irish are upset at the tough terms of the deal, saying they’re losing sovereignty.

Today’s link: The Treasury Department sold its remaining stake in Citigroup for $12 billion, but an article in The New York Times says the Fed is still owed by Wall Street as a result of the bailout. It still has several emergency programs and credit lines and its road to profitability is unclear.

Our Rates:

Continue Reading…

Category: Mortgage Rates
Mortgage Rates at Total Mortgage – Some of the Lowest in the Industry
By Staff on December 7, 2010

Mortgage rates currently offered at Total Mortgage are among some of the lowest in the mortgage industry. A variety of mortgage loans are available at Total Mortgage, including fixed rate mortgages, FHA mortgages, jumbo mortgages, adjustable rate mortgages and many more.

One of the most desired home loans are the fixed rate mortgages. People can enjoy the convenience of a fixed rate and a low monthly mortgage payment throughout the length of the loan with fixed rate mortgages. A 30 year fixed rate mortgage is available currently at a 4.000% interest rate and 4.201% APR, and a 20 year fixed rate mortgage is available at a 3.875% rate with 4.153% APR.

A 30 year fixed FHA mortgage is available at a 4.125% mortgage rate and 5.537% APR. FHA mortgages backed by the Federal Housing Administration have helped many people who were unable to get conventional mortgages get mortgage loans and have gained popularity among first time homebuyers.

Continue Reading…

Category: Mortgage Rates
Mortgage Rates Will Remain Low Into Next Year, Predicts Freddie Mac Economist
1 By Michael Kling on December 7, 2010

Mortgage rates will remain low into next year, predicts Freddie Mac Chief Economist Frank Nothaft. The Federal Reserve will keep the federal funds rate at its current 0 percent to 0.25 percent range for all or most of next year, so relatively low mortgage rates will continue, Nothaft wrote in his blog yesterday.

The rates for fixed-rate mortgages will increase a bit, but rates for the 30-year fixed-rate mortgage will probably remain under 5 percent through the year, Nothaft predicts. Initial rates for 5/1 adjustable-rates mortgages will probably stay below 4 percent.

In addition, the housing and mortgage markets will gradual recover in 2011, with more home sales next year. Housing markets with a surplus of houses for sale and bank-owned properties will continue to have trouble, but national housing indexes are close to bottom, he asserts. Most experts expect indexes for single-family homes to bottom out in the first half of 2011.

The good news is that houses are more affordable than they’ve been in years. In fact, the National Association of Realtors’ Affordability Index for the third quarter reported one of the most affordable housing markets since the 1970s. Those low prices will attract more first-time home buyers to the market, Nothaft predicts.

While purchase-money mortgages will increase, refinance mortgages will decline, he forecasts. Many homeowners have already refinanced or are now refinancing. Plus, the Home Affordable Refinance Program is set to expire June 30, and mortgage rates will begin gradually increasing during the year. Continue Reading…

Category: Adjustable Rate Mortgages, Fixed Rate Mortgages, Mortgage Interest Rates, Mortgage Rate Trends and Analysis, Mortgage Rates
Adjustable Rate Mortgages at Total Mortgage
By Staff on November 30, 2010

Total Mortgage offers some of the most affordable adjustable rate mortgages (ARMs) in the mortgage industry and across the nation. A variety of conforming and jumbo ARMs are available at Total Mortgage to meet every borrower’s individual needs

Adjustable rate mortgages are mortgages whose rates adjust periodically based on market conditions. The mortgage rates are considerably low for a specified initial period as well as fixed for that period. After the initial period has passed, rates will adjust and monthly mortgage payments may increase. Total Mortgage has some of the lowest conforming adjustable rate mortgages available. Currently the 5/1 ARM conforming mortgage is available at a 2.500 percent interest rate and 3.022 percent APR. The 1/1 ARM conforming mortgage is offered at a 3.150 percent mortgage rate and 3.877 percent APR with borrowers paying no points.

Continue Reading…

Category: Mortgage Rates