Mortgage Rates at Total Mortgage Services, LLC continue to sit at their lowest levels of 2010 this morning, despite some international indications from the Far East that interest rates could be on the way up.
Among today’s mortgage rates at Total Mortgage, the 30-year fixed conventional mortgage rate is unchanged at 4.375 percent, and a 4.583 percent APR. Additionally, the 30-year FHA is coming in at a 4.250 percent rate and 5.178 percent APR, and the 30-year jumbo mortgage rate is at 5.250 percent and a 5.463 percent APR.
The Wall Street Journal reported today that Taiwan’s central bank has asked lenders to set interest rates on new mortgage loans above 1.5 percent to help cool off the island’s property market. The central bank arrived at the mortgage rate recommendation after factoring in potential risks and costs as they pertain to mortgage lending in Taiwan, said the official in the Journal article.
And the Global Times is reporting that J.P. Morgan predicted Tuesday that China’s economic growth will reach 10.8 percent this year and the central government will boost interest rates in the third quarter, as part of regular economic practice, as opposed to it being strictly a move to tighten momentary policy.
When exactly we will see an interest rate increase in the United States remains to be seen, but Ben Bernanke commented Monday night that the Federal Reserve is likely to increase interest rates before unemployment is under control.
Current mortgage rates are regularly updated on Total Mortgage’s website, while daily mortgage rate and industry insight is available at the Total Mortgage blog.
At 9:30 a.m. on June 9, 2010, the following mortgage rates are available 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 complete offering 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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