Conventional 30-year fixed mortgage rates are still at 4.25% for well-qualified borrowers paying 1 point origination, shows FreeRateUpdate.com research of wholesale lenders' rate sheets for brokers. 15-year financing is available at 3.75%. Both fixed conforming interest rates are at all-time record lows. 

Rates for FHA loans are just as good; however, APR on an FHA mortgage with the same note rate as a conforming loan is significantly higher because of MI and other FHA fees.

Today's jumbo 30-year fixed mortgage rate is at an all-time record low as well, 5.25%.

Wells Fargo, the #1 originator of mortgages in the United States, is offering on their website a conventional 30-year fixed rate of 4.625, with an APR of 4.812%.

Despite the lowest rates in more than 50 years, home-buying is weak. The government is looking into re-implement the home-buyer tax-credit in order to spark the market.

Mortgage-backed securities prices, which drive mortgage rates in the opposite direction, continue to perform well driving mortgage rates down. Panic about economic conditions at home and overseas, particularly in Europe, is credited with helping MBS prices and mortgage rates.

Published: July 7, 2010

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