Mortgage rates continue to remain at exceptionally low rates at the start of business Wednesday. This is great news for people in the market looking to purchase a new home or seeking to refinance an existing mortgage.
Last week at Total Mortgage Services, LLC, the 30-year fixed conventional fell from 4.500 percent to 4.375 percent, the 20-year fixed conventional was lowered from 4.375 percent to 4.250 and the 15-year fixed conventional dropped from 4.000 percent to 3.875 percent. The 30-year fixed FHA also went down to 4.250 percent from its previous 4.375 percent listing.
The 30- and 15-year fixed jumbo mortgages, 5/1 ARM conforming or 5/1 ARM jumbo mortgage have all held steady at their respective rates the past couple weeks.
Current mortgage rates are updated continuously on Total Mortgage’s website, in addition to daily insight and perspective on mortgage industry news and trends.
As of 9:30 a.m. on May 19, 2010, TotalMortgage.com was offering the following mortgage rates:
30-Year Fixed Conventional 4.375% Rate, 4.583% APR
20-Year Fixed Conventional 4.250% Rate, 4.535 APR
15-Year Fixed Conventional 3.875% Rate, 4.236% APR
30-Year FHA 4.250% Rate, 5.178% APR
30-Year Fixed Jumbo Mortgage 5.125% Rate, 5.336% APR
15-Year Fixed Jumbo Mortgage 4.000% Rate, 4.352% APR
5/1 ARM Conforming Mortgage 3.000% Rate, 3.367% APR
5/1 ARM Jumbo Mortgage 3.500% Rate, 3.291% APR
For a complete listing of rates and mortgage products visit TotalMortgage.com.
* All rates shown are for 30 day rate locks. Longer locks available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 2 points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for jumbo loan amounts is calculated using a loan amount of $500,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for FHA loan amounts is calculated using a loan amount of $295,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. Some rates and fees may vary by state. All interest rates listed are for qualified applicants and are subject to mortgage approval. All rates are subject to change without notice.
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