Current Mortgage Rates for Monday May 5, 2014

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by Moe Bedardmortgage2

 

Current mortgage rates this Monday morning are continuing on a downward trend with no increases found at any of the top lenders we study on a daily basis. These changes are listed below along with detailed rate reports.For rates based on a conventional loan programs; The 20-year fixed rate mortgage (FRM) decreased at Bank of America under their home purchase and refinance program.
Over at Citi, the 15-year FRM decreased along with the 10-year adjustable rate mortgage (ARM) under their home purchase program, while the 30-year FRM and the 15-year FRM fell under their refinance program.
The FHA and the conventional 30-year FRM decreased at Wells Fargo under their home purchase program, while the 30-year and the 15-year FRM decreased under their refinance program.
For rates reported directly from the lender portfolio programs; The 30-year and the 15-year FRM decreased at Chase under their home purchase program, while the 30-year FRM decreased along with the 7-year and the 5-year ARM under their refinance program. At US Bank, the 10-year ARM, the cofnroming 30, 20, 15 and 10-year, FHA 30-year and 15-year and VA 30 and 15-year FRM all decreased.
Jumbo mortgage rates today saw the 15-year FRM decreased at Chase under their home purchase program, while the 30-year FRM decreased under their refinance program. At Citi, the 15-year FRM decreased along with the 10-year ARM under their home purchase program. Over at Wells Fargo, the 30-year and the 5-year ARM decreased under their home purchase program, while the 15-year FRM decreased under their refinance program.
Additional loan products, rates and lock periods are available. If you are looking for the best mortgage rates, please call us today at 800-779-4547!
Summary for average mortgage rates:

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