Unsure About Your Mortgage?

If you have an adjustable rate mortgage now and you are not sure when it will adjust or what your new payment will be we can help. In your closing documents from the title company is a document called the mortgage note. We can examine this and let you know what will happen. Will your payment go up, down or stay the same? We will explain it to you. Many people have 1,2,3 or 5 year adjustable rate loans. These loans are tied to different indexes and adjust in different ways. Find your mortgage note and call us. We will give you the facts. Free of charge!
414-416-9194

Rates in 6s

Milwaukee mortgage rates remain in the 6s for borrowers looking to purchase or refinance. If you are on an ARM it is time to lock into a fixed rate loan. If you are looking to purchase in the next 3 months it is time to meet with a loan officer and get pre-qualified. We would be happy to tailor a mortgage plan to suit your specific needs. Call 24/7 at 414-416-9194 to schedule your no obligation appointment,

Better Business Bureau

Great Lakes Mortgage Corporation is now a proud number of the Better Business Bureau. Our focus is on you the customer helping you achieve your goals. If there is anything we can do better or differently be sure to let us know.

Mortgage Rates Improve

Mortgage rates improved Monday and had also improved Friday afternoon as financial news continues to rock the markets. If you were on the fence and unsure about whether to start your home search this may be your opportunity.

Mortgage Rates Today

A 30 year mortgage rate is available at 6.375% for borrowers with credit scores over 740. The mortgage is a 5/1 Arm which means the initial rate is fixed for 5 years and adjusts annually on the 6th through 8th years if you have not paid it off or refinanced. It has a lifetime cap of 6%. In other words if you had the loan 8 years the maximum rate would be 6% higher. It adjusts 2% annually starting on the 61st month. However it is fixed for 5 years at the low rate of 6.375% for borrowers who qualify. The APR is 6.43%. To apply call 414-416-9194.

A 30 year fixed was at 6.625% today.
APR 6.73%

Mortgage rates have trended higher recently. No one knows where they will be in the future.

Federal Reserve To Meet

The Federal Reserve meets Tuesday and analysts believe rates will remain the same. Currently the prime rate is 5%. This is the rate banks use for certain consumer loans and home equity lines of credit. 30 year mortgage rates are not tied directly to the Fed however the Fed does play a huge roll in credit availability.

The current 30 year fixed mortgage rates in Wisconsin are 6.25% with 1 point or 6.5% with no points.

APRs 6.31/ 6.62