Today’s historically low rates increase your buying power! St. Louis Mortgage Interest Rate Update

Mortgage interest rates have reached historically low levels. It’s truly amazing how much the average borrower’s purchasing power has increased! The following chart tells it all. Check out the chart showing the history of interest rates as well as the examples of the savings below:

Historical Mortgage Interest Rates 1984 to 2011

mortgage payment comparison current interest rates versus historic interest rates

As mortgage rates have dropped this year, so have the costs of homeownership. At every given loan size, bargain-basement interest rates have brought monthly mortgage payments to levels never seen in history.

It’s a great time to buy a home.

St. Louis MORTGAGE INTEREST RATES for September 14, 2011:

  • Conventional 30-Year Fixed 4.125%/ 4.375% APR
  • Conventional 15-Year Fixed 3.375%/ 3.520% APR
  • Conventional 5/1 ARM 2.750%/ 3.026% APR
  • FHA/VA 30 Year Fixed 4.00%/ 4.425% APR
  • Jumbo 5/1 ARM 2.875%/ 2.875% APR
  • Jumbo 15 yr Fixed 3.625%/ 3.875% APR
  • Jumbo 30 yr Fixed 4.875%/ 5.125% APR

*The above mortgage rates are based upon an 80% LTV, o/o single family with FICO scores of 720.

Paramount Mortgage is a locally owned Mortgage Banker; we just celebrated our 40th anniversary. Great rates and programs are secondary to what is most desired in a lender relationship. The most sought-after aspects in this industry cannot be easily translated onto paper…learn more about us here.

For more information or if you have questions on mortgage rates you may contact me by phone at my direct line, (314) 372-4319, email at rfishel@paramountmortgage.com or you can visit our company website at http://www.paramountmortgage.com.

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