FreeRateUpdate.com research of wholesale lenders' rate sheets shows conventional 30-yr fixed mortgages available today at 4.875% to well-qualified consumers paying a standard origination fee of .07 to 1 point.

15-year fixed mortgages remain available at 4.25, and the 5/1 ARM is available at 3.625%.

FHA mortgage rates, which have not wavered much with bond prices, remain steady. FHA 30-yr fixed rate loans continue to be available at 4.75%. MI, at 2.25% of the amount financed, and other FHA fees make FHA loans far more expensive than conventional loans, even at similar rate and origination. The I.R.S. home-buyer tax credit of up to $8,000 expires this week, on Friday. The tax credit is applicable toward closing cost on an FHA loan.

Jumbo mortgage rates have been sailing smooth and the 30-yr fixed jumbo rate remains at 5.625%. 5.5% on a jumbo 30-yr fixed is available to those with an extremely low loan to value ratio. Jumbo securities are being sold again privately for the first time 2 years and could be a sign the jumbo mortgage market is poised to loosen.

Mortgage-backed securities prices, which drive mortgage rates their opposite, continue to perform well without government buying. So far this week MBS prices are up. There's a solid chance rates improve, especially as the deterioration in Greek's economy once again is pushing investors toward bonds.

FreeRateUpdate.com researches over 2 dozen wholesale lenders' rate sheets daily to determine the most accurate rates available to well-qualified consumers at standard origination of about 1 point.

Today's Mortgage Rates - Available today at a standard origination fee of 1 pt to well-qualified borrowers:

• 30-yr fixed-rate - 4.875%

• 15-yr fixed-rate - 4.250%

• 5/1 ARM rate - 3.625%

• FHA 30-yr fixed-rate - 4.750%

• FHA 15-yr fixed-rate - 4.50%

• FHA 5/1 ARM rate - 3.500%

• VA 30-yr fixed-rate - 4.875%

• Jumbo 30-yr fixed-rate - 5.625%

• Jumbo Conforming 30-yr fixed-rate - 5.000%

• Conventional = Standard, Conforming, Freddie Mac / Fannie Mae insured

Published: April 28, 2010

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Edward James Ferrara III spent 8 years (2001-2008) brokering and banking home loans in Orange County, CA to the tune of some 500 million dollars in mortgages funded by May of 2008, when he founded the rate research website FreeRateUpdate.com. Ed is not only the founder of FreeRateUpdate.com, he is also a lead contributor to the site, whose roster includes over a dozen writers and of which receives over 50,000 page views per month. Ed's passion for helping consumers to avoid falling victim to banks dishing out higher rates for bigger profits has helped FreeRateUpdate.com to become a unique authority on mortgage rates. Ed recently married Cheyne Aki Gantt and became a first time father to Edward James Ferrara IV, born August 31st 2009. Ed and FreeRateUpdate.com have recently been cited in numerous media outlets including the Los Angeles Times, Yahoo Finance, and Marketwatch.