Current Mortgage Rates for Monday, December 19, 2011Mortgage rates hit record lows last week, and it looks as though rates will maintain their record lows today. There is quite a bit of economic data coming this week, including information on housing starts on Tuesday, existing home sales on Wednesday, GDP and consumer sentiment on Thursday, and new home sales on Friday. If strong numbers are reported, we could see rates creep up this week, although I suspect they will most likely hover around their current levels.
If you are a homeowner looking to refinance your current mortgage or are looking for a new home, Total Mortgage may be able to help you save money on your monthly payments. We are known for having some of the lowest rates and fastest closing times in the industry. Call us now at 877-868-2503 to speak with one of our licensed loan officers about our rates and products.
Some of Our Most Popular Rates and Products*:
Mortgage Product Mortgage Rates APR 30 Year Fixed Conventional Mortgage 3.750% 3.862% 15 Year Fixed Conventional Mortgage 3.250% 3.448% 30 Year Fixed FHA Mortgage 3.750% 5.092% 30 Year Fixed Jumbo Mortgage 4.625% 4.740% 5/1 Conforming ARM Mortgage 2.375% 2.384% 5/1 Jumbo ARM Mortgage 2.625% 2.830%
***Mortgage rates change frequently. The above rates were quoted at 1:02 P.M., on December 19, 2011. Call 877-868-2503 for more details.***
Yves Smith: FHFA inspector general end runs DoJ, joins foreces with New York Attorney General Schneiderman.
WSJ: Fine print for ‘gifts’ to home buyers.
Housing Wire: Wharton study says private flood insurance could supplement NFIP.
Barry Ritholtz via the Washington Post: The systemic risk revealed by MF Global’s collapse.
Reuters: North Korea mourns dead leader, son hailed as ‘great successor’. Somehow I don’t think that “mourn” is the correct verb here.
Nouriel Roubini: Fragile and unbalanced in 2012. Prognosis negative.
Market Watch: This slump won’t end until 2031. An even more negative prediction.
Boston Real Estate Now: Prices are down, but so is affordability.
NYT: Making a list, and taking it to the pawnshop.
Bloomberg: S&P cut proves absurd as investors prefer U.S. I really enjoyed this headline, which seemed unusually blunt for Bloomberg.
LA Times: Hot property: Howie Mandel’s Malibu house lists for $7.25 million. $7.25 million will buy a lot of surgical gloves.
Credit Slips: Robbing Peter to Pay Paul: US economy edition.
* All rates shown are for 30 day rate locks. Longer locks are available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 1 point, a $495 application fee, $400 appraisal 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, $400 appraisal 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, $450 appraisal 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 with 720 or higher FICO and 80 LTV and are subject to mortgage approval with full documentation of income. All rates are subject to change without notice. All rates shown are for 30 day rate locks with 1 point unless otherwise noted.
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