For people who plan on spending part of their upcoming holiday weekend home shopping, Total Mortgage is still offering some of the lowest mortgage rates in the industry for those who intend on buying a house in the near future, or are considering refinancing their existing mortgages.
Mortgage rates will likely stay flat this weekend, and their future levels will hinge on a variety of factors, but it’s hard to envision them falling much further.
Bond prices dropped sharply yesterday as investors once again bought stocks and Euros after China’s announcement that it did not plan on reducing its holdings in Europe. Also, five-year, 10, and 30-year Treasury yields rose 20bp or more during the past couple days.
In other developments, personal income equaled expectations while personal spending was lighter-than-expected in April. Additionally, the core personal consumption expenditures deflator rose .1 percent for the month and 1.2 percent year-over-year, keeping the inflation rate well within the Fed’s comfort zone
Nationally, mortgage rates are at their lowest points of the year, and at Total Mortgage many of the low mortgage rates are below the industry average. The 30-year fixed is at an attractive 4.375 percent rate and 4.583 percent APR, and the 30-year Fixed FHA is sitting at a low 4.250 percent rate and 5.178 percent APR.
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 9:55 am on May 28, 2010, the following mortgage rates were listed at Total Mortgage Services, LLC:
| Loan Type | Rate | APR |
|---|---|---|
| 30-Year Fixed Conventional | 4.375% | 4.583% |
| 20-Year Fixed Conventional | 4.250% | 4.535% |
| 15-Year Fixed Conventional | 3.875% | 4.236% |
| 30-Year Fixed FHA | 4.250% | 5.178% |
| 30-Year Fixed Jumbo Mortgage | 5.250% | 5.463% |
| 15-Year Fixed Jumbo Mortgage | 4.000% | 4.352% |
| 5/1 ARM Conforming Mortgage | 3.125% | 3.547% |
| 5/1 ARM Jumbo Mortgage | 3.500% | 3.265% |
| 1/1 ARM Conforming Mortgage (0 Points) | 3.150% | 3.922% |
| 1/1 ARM Jumbo Mortgage (0 Points) | 3.150% | 3.794% |
For a full list of mortgage rates and mortgage products visit TotalMortgage.com for additional information.
* 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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