Uncertainty in the global economy has kept mortgage rates at record lows for over a month. This week mortgage-backed securities prices, which drive mortgage rates their opposite, have again posted gains as investors continue to favor safer bets, helping mortgage rates.

30-year fixed mortgage rates remain at 4.25% for well-qualified consumers willing to pay 1 point origination. 15-year fixed mortgage rates are at 3.625%.

FHA mortgage rates mirror those of conforming mortgages for the most part. Today's FHA 30-year fixed-rate is solid at 4.25% with low risk of a sudden jump. A 30-year fixed FHA loan with an interest rate of 4.25% at 1 point origination will have a higher APR then that of an identical conforming mortgage because of MI and other FHA fees charged exclusively on FHA loans.

30-year fixed jumbo mortgage rates are all the way down to 5.125%, after being in the high 5's for most of the first half of 2010.

Wells Fargo is advertising a 30-year fixed-rate of 4.5% with an APR of 4.686 on their website, down from last week.

All rates mentioned in this article are verified by FreeRateUpdate.com who researches over 2 dozen wholesale lenders' rate sheets for brokers on a daily basis.

Published: July 21, 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.