Toll Brothers Offering Ultra Low Mortgage Rate

Horsham, PA, Jan. 22, 2009--Toll Brothers is offering a 3.99% fixed mortgage rate for 30 years, as it tries to unload inventory.

Toll said the offer is for loans of $417,000 or less and carries no points for the buyer.

The program also requires a credit score of 720 or higher and a down payment of 20% without private mortgage insurance.

For the week ended Jan. 15, the 30-year fixed-rate mortgage slipped to an average 4.96% with an average 0.7 point, according to Freddie Mac.