Mortgage rates are likely drop today, which bodes well for home buyers who are in the market for a 30-year fixed conventional mortgage, 30-year FHA home loan or 5/1 ARM conforming mortgage.
Stocks have opened considerably lower Tuesday, with continuing concerns about the European debt crisis and newer worries about the Korean peninsula, where tension is rising between North and South Korea. Stocks in the European and Asian markets were down 3 percent today.
Bond prices rose slightly yesterday and yields on the long end of the curve managed to hit one-year low points. The long bond’s yield is nearing 4 percent and the two-year Treasury note is approaching its December low.
At Total Mortgage Services, the 30-year fixed conventional is currently at 4.375 percent, the 30-year FHA is at 4.250 percent and the 5/1 ARM conforming mortgage is at 3.000 percent.
Total Mortgage Services, LLC has some of the lowest current rates on adjustable-rate mortgages, 30-year fixed-rate mortgages, and FHA and jumbo home loans. Current mortgage rates are listed continuously on TotalMortgage.com, as well as daily analysis on mortgage industry news and trends.
As of 9:30 a.m. on May 25, 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.
According to the survey by Freddie Mac, mortgage rates have gone up. The 30 year fixed rate mortgage climbed to 4.39 percent compared to 4.17 percent from last week. The 15 year fixed rate mortgage went up to 3.76 percent mortgage rate from its previous week of 3.57 percent, and the 5/1 adjustable rate mortgage also increased by 3.40 percent from 4.25 percent last week.
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