Current GMAC mortgage rates for the mortgage scenario listed below.

Using GMAC’s “rate service”offered on their mortgage website we checked out mortgage rates for an optimal scenario (listed in the table below), and the results were surprisingly disappointing. GMAC mortgage rates are the highest we’ve seen. Despite our findings, because of how high GMAC mortgage rates came in using their rate service, you may want to investigate further including calling into GMAC if you are for some reason wanting to get your mortgage through them. Why? Though unlikely, it’s possible they don’t upkeep their rate quote online system (“rate service”). This is however unlikey, as at the bottom of the quoted rates from GMAC on their website is the following time stamp, Rates in effect as of: 09/29/2009 6:45 PM, CDT .

Current GMAC Mortgage Rates (based on scenario below this paragraph).

GMAC’s 30 year fixed mortgage rateat par didn’t even show up. Instead the best rate, nearest to par, but still at additional points of 0.600, was 5.125 percent. If GMAC was to close a prime customer at that rate and fees they’d make a killing. The .600 in points is in addition to regular points and fees. It’s the discount points, also known as a buy down. That being said, GMAC’s par rate is higher than 5.125 percent putting them AT LEAST 1/2 a percent higher than today’s mortgage rates, as reported from our research of wholesale mortgage lender’s rate sheets.

GMAC’s 15 Year Fixed Mortgage Rate

GMAC’s 15 year fixed mortgage, closest to par but still at a buy down of .10, is 4.625 percent according to their “rate service”. GMAC’s 15 year fixed mortgage rate at par, without a buy down, is a half a percent above current mortgage rates.

The scenario below is what we based our report on GMAC mortgage rates off using their online rate service.

source – gmacmortgage.com/comparerates/