Mortgage Rates & Trends: Mortgage Blog

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  1. FHA Interest Rates for January 4, 2011

    By on January 4, 2011

    FHA Interest Rates for Jan 3, 2010Mortgage rates have climbed up slightly again. According to the Mortgage Market Survey released by Freddie Mac last week, both the 30 year fixed rate mortgage and the 15 year fixed rate mortgage went up. The average rate for 30 year fixed rate mortgage was 4.86% and the average rate for 15 year fixed rate mortgage was 4.20% for the week ending in December 30, 2010.

    Mortgage rates have definitely climbed up from what they were a month and a half back, however they are still low compared to what they were a year ago. If you are planning to purchase a house or refinance your existing mortgage, it is still a good time to go forward with those plans before mortgage rates jump up even higher.

    At Total Mortgage, we have some of the best mortgage rates in the industry. We also offer different mortgage products to fit individual needs of borrowers. Fixed rate mortgages, FHA mortgages, adjustable rate mortgages and jumbo mortgages are some of popular mortgage products available at Total Mortgage.

    Continue Reading…

    Category: Mortgage Rates

  2. Affordable Mortgage Rates Available in Massachusetts

    1 By on July 30, 2010

    Great Low Mortgages Rates Available in MassachusettsTotal Mortgage currently has some of the most affordable mortgage rates in Massachusetts. Regardless of whether you are buying a house in the Boston area, on Cape Cod, or anywhere else in Boston there is a mortgage product that fits your financial needs.

    Adjustable rate mortgages (ARM) can be a great option if you are considering taking out a home loan. A 5/1 ARM currently has a 3.000 percent mortgage rate and a 3.481 percent APR. For borrowers with larger loans a jumbo ARM may be necessary. A 5/1 jumbo ARM has a 3.625 percent mortgage rate and a 3.657 percent APR. Continue Reading…

    Category: Mortgage Rates

  3. 30 Year Fixed Mortgage Rates at Total Mortgage

    By on July 21, 2010

    Total Mortgage is posting some of the lowest current mortgage rates in the nation. One of the featured mortgage products at Total Mortgage is a 30 year fixed conventional mortgage. This 30 year fixed rate mortgage is currently being offered with a 4.125% mortgage rate and a 4.323% APR.

    One of the major perks of a 30 year fixed rate mortgage is that you will have low payments every month. Your mortgage rate may be a little higher than if you had a loan with a shorter term, maybe 15 or 20 years, but the length of the loan will allow you to have reduced payments.

    A fixed rate mortgage has 3 main characteristics. The first two, being the term and amount of the loan, will vary depending on your situation. The last is the compounding frequency which can be monthly, yearly, etc. If you know these three things then you can determine exactly what your payments will be each and every month.

    With mortgage rates as low as they are for a 30 year fixed conventional mortgage there is no reason to consider another mortgage product. Adjustable rate mortgages (ARM) may provide lower mortgage rates initially but you may run the risk of having significant rate increases in the future.

    For a free rate quote fill out this form or call 877-868-2503 to speak with a licensed mortgage expert.

    Category: Fixed Rate Mortgages, Mortgage Rates

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