Mortgage Rates Open Low Tuesday At Total Mortgage

There has been no movement in mortgage rates today from yesterday, though some reports anticipate rates are due to rise, including yesterday’s economic outlook by Fannie Mae.

Bond prices fell however slightly yesterday as trading was reasonably quiet. April’s housing starts, released this morning, came in better than expected.

Late last week at Total Mortgage Services, LLC, the 30-year fixed conventional fell from 4.500 percent to 4.375 percent. Additionally, the 20-year fixed conventional dipped from 4.375 percent to 4.250 and the 15-year fixed conventional fell from 4.000 percent to 3.875 percent.

The 30-year fixed FHA was lowered this past week to 4.250 percent from 4.375 percent.

There has not been any recent movement in the 30- and 15-year fixed jumbo mortgages, nor the 5/1 ARM conforming or 5/1 ARM jumbo mortgage.

Total Mortgage Services, LLC is listing some of the lowest current rates on 30-year fixed-rate mortgages, FHA mortgages, jumbo mortgages and adjustable-rate mortgages. 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 9:20 a.m. on May 18, 2010, the following rates were listed at Total Mortgage:

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.