The mortgage market witnessed gains on Friday, which was a reversal from Thursday’s losses. That trend continues this morning as bonds are higher due to stock prices falling globally. This week’s economic calendar is abbreviated due to the long Memorial Day weekend with the all-important employment report for May due out on Friday.
Little transpired over the long Memorial Day weekend to affect the low current mortgage rates at Total Mortgage Services, LLC. Mortgage rates are still being offered by Total Mortgage at their lowest levels of 2010 for prospective home loan and financing options.
The 30-year fixed conventional mortgage continues to be offered at a 4.375 percent and 4.583 percent APR, and the 30-year fixed FHA is listed at a 4.250 percent rate 5.178 percent APR.
Also of note, the 5/1 adjustable rate mortgage is coming in at 3.125 percent, with a 3.547 APR, and the 1/1 ARM is now at a 3.150 percent rate and 3.922 percent APR.
Current mortgage rates are updated frequently at TotalMortgage.com, in addition to daily insight and analysis on mortgage industry news and information.
As of 9:30 a.m. on June 1, 2010, the following rates were listed at Total Mortgage:
| 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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