Coming into Friday morning Total Mortgage is posting some of its lowest rates of the week. Fixed rate mortgages have seen significant rate reductions since earlier in the week.
At the beginning of the week a 30-Year Fixed Conventional Mortgage was available with a 4.375% rate and a 4.581% APR with 2 points. The rate for the same mortgage program is currently 4.125%, down .250%, and has an APR of 4.323%. A 15-Year Fixed Conventional Mortgage has a rate 3.625%, a .250% drop, and an APR of 3.972.
The 30-Year Fixed FHA Mortgages is down as well, with a interest rate of 4.000% and an APR of 5.178%. These numbers are down .250% and .066% respectively. Jumbo mortgages have experienced rate decreases as well. A 30-Year Fixed Jumbo Mortgage currently has a rate of 5.000%, down .250%, and a 5.203% APR.
In addition to fixed rate mortgages we also are offering some of the most competitive rates on both conforming and jumbo ARMs (adjustable rate mortgage).
Mortgage rates are constantly changing; all rates were quoted at 9:25 a.m. on July 2, 2010.
| Mortgage Product |
Rate |
APR |
| 30-Year Fixed Conventional Mortgage |
4.125% |
4.323% |
| 15-Year Fixed Conventional Mortgage |
3.625% |
3.972% |
| 30-Year Fixed FHA Mortgages |
4.000% |
5.178% |
| 30-Year Fixed Jumbo Mortgages |
5.000% |
5.203% |
| 5/1 ARM Conforming Mortgage |
3.000% |
3.481% |
* For a complete lists of our mortgage products and additional mortgage rates check us out online or call 877-868-2503 to lock your mortgage loan now.
*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.
*All rates shown are for 30 day rate locks with 2 Points unless otherwise noted.
Total Mortgage is currently posting some of the lowest mortgage rates in the industry. With some of the lowest mortgage rates on record Total Mortgage will build a mortgage that fits you financial needs.
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