Todays lowest mortgage rates remain the same, but are at risk of rising as positive economic data drove stocks higher and MBS prices lower.

The mortgage market has enjoyed these low conforming mortgage rates for several weeks, but may soon see a change. Current 30 year fixed mortgage interest rates are at 4.250%, 15 year fixed mortgage interest rates are at 3.500% and 5/1 ARM loan rates are at 2.750%. Borrowers must have good credit and necessary documentation to receive these low mortgage rates with 0.7 to 1% origination fee. Mortgage lending is still relying on stricter guidelines, but with the necessary information available, borrowers can still be approved.

FHA mortgage rates have also been at 2011 record lows for quite some time. Todays FHA 30 year fixed mortgage rates are at 4.250%, FHA 15 year fixed mortgage rates are at 3.750% and FHA 5/1 ARM loan rates are at 3.000%. FHA makes the mortgage process a little easier for borrowers with credit that is not considered perfect. For home buyers, the required down payment for FHA mortgages can be as low as 3.5% and can be combined with gifts and housing grants. In return, borrowers pay higher FHA closing costs (APR) due to various FHA fees and the upfront mortgage insurance premium.

At this time, jumbo mortgage loans are still available with low jumbo mortgage rates. Current jumbo 30 year fixed mortgage interest rates are at 5.125%, jumbo 15 year fixed mortgage interest rates are at 4.500% and jumbo 5/1 ARM loan rates are at 3.625%. With excellent credit, borrowers can still obtain these low jumbo mortgage rates with 0.7 to 1% origination point. Jumbo mortgage loans are necessary for mortgage financing above the conforming loan limit which is scheduled to decrease in October.

Todays Wells Fargo California 30 year fixed mortgage rates are at 4.750% (4.939% APR).

MBS prices (mortgage backed securities) are down today -12/32 (FNMA 30 yr 4.0 at 99.24). This is below earlier pricing of -7/32. For week ending July 2nd, it was reported today that unemployment claims were down 14,000 from the previous week. This news was better than anticipated by investors and created a stock market rally which moved MBS markets down. End results of this type of market behavior can be ultimately be higher mortgage rates.

FreeRateUpdate.com surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at a standard .07 to 1% point origination fee.