3.99% Toll Brothers Mortgage Rate

January 22, 2009 10:30am by Barry Ritholtz

Builder Toll Brothers is hoping to spur some interest in their homes via an ultra low mortgage rate of 3.99%

To qualify for this rate, buyers need:

• FICO credit score of 720 or higher;

• Down payment of 20% (with no PMI)

• Mortgages of $417,000 or less.

To give you an idea of how aggressive these rates are, Mortgages are at record lows. The 30-year fixed-rate mortgage is 4.96%, down from 5.69% a year ago. The WSJ reports this is the lowest since Freddie Mac began its survey in 1971.

Source:
Builder Offers 3.99% Rate on Mortgage
DAWN WOTAPKA
WSJ, JANUARY 21, 2009
http://online.wsj.com/article/SB123259465468105115.html

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