Mortgage rates remained steady at their lowest points of 2010 last week, but could start moving higher from their near-historic lows at some point in the foreseeable future.
Bond prices fell moderately Friday, while stocks, the Euro and non-gold commodities all moved higher at the end of last week. The Euro fell in early trading today, after the Spanish central bank’s takeover of savings bank CajaSur. The move indicates how weak the banking sector is in some European states.
There wasn’t any significant financial news over the weekend, though the economic calendar for this week will be active, with the Treasury set to auction of two, five, and seven-year notes beginning tomorrow. Additionally, existing homes sales data comes out this morning, followed by Case Shiller home prices on Tuesday.
Total Mortgage Services, LLC offers some of the lowest current rates on 30-, 20 and 15-year fixed-rate mortgages, FHA and jumbo home loans, as well as 5/1 and 1/1 ARM conforming mortgage. Current mortgage rates are updated regularly on Total Mortgage’s website, as well as daily analysis on mortgage industry news and trends.
As of 9:30 a.m. on May 24, 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 | 5.125% | 5.336% |
| 15-Year Fixed Jumbo Mortgage | 4.000% | 4.352% |
| 5/1 ARM Conforming Mortgage | 3.000% | 3.367% |
| 5/1 ARM Jumbo Mortgage | 3.500% | 3.291% |
| 1/1 ARM Conforming Mortgage (0 Points) | 2.950% | 3.722% |
| 1/1 ARM Jumbo Mortgage (0 Points) | 2.950% | 3.722% |
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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