Today Bankrate is posting a variety of national mortgage rates. The national averages being posted are for a 30-year fixed conventional mortgage, a 15-year fixed conventional mortgage, and a 5/1 adjustable rate conforming mortgage (ARM). Total Mortgage Services is currently offering all three of these mortgage products with rates that are below the national average.
The national average for a 30-year fixed conventional mortgage is 4.690%. Total Mortgage is offering a 30-year fixed conventional mortgage with a rate of 4.625% and an APR of 4.656%.
A 15-year fixed conventional mortgage at Total Mortgage is currently available with an interest rate of 4.000% and a 4.053% APR. The national average rate for the same mortgage products is 4.080%, slightly higher than Total Mortgage’s.
In addition to fixed rate mortgages Total Mortgage also has rates below the national average for adjustable rate mortgages (ARM). The national average for 5/1 conforming ARM is 3.690%. Total Mortgage offers the same adjustable rate mortgage (ARM) with a 3.500% rate and 3.046% APR. Our rate is significantly lower than the national average posted on Bankrate.
Mortgage rates fluctuate daily and sometime multiple times throughout the day. All rates were quoted at 3:30 p.m on July 7, 2010.
| Mortgage Product | Total Mortgage’s Rates | National Average Rates |
|---|---|---|
| 30-Year Fixed Conventional Mortgage | 4.625% | 4.690% |
| 15-Year Fixed Conventional Mortgage | 4.000% | 4.080% |
| 5/1 ARM Conforming Mortgage | 3.500% | 3.690% |
*All Total Mortgage 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.
*All Total Mortgages rates shown are for 30 day rate locks with 0 Points unless otherwise noted.
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