The lowest mortgage rates of the year remain unaffected today by upbeat economic information that was released earlier.

Conforming mortgage rates have been at 2011 record lows for a number of weeks. 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%. With lending standards remaining tight, borrowers must have good credit to obtain these lowest conforming mortgage rates with 0.7 to 1% origination fee. Many borrowers have improved their credit standing over the past few years and can now meet lending guidelines and documentation requirements.

Gaining in popularity over the past several years, FHA mortgage loans continue to be a favorite especially for first time home buyers. 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 required down payments can be as low as 3.5%. Gifts that meet FHA approval and other housing initiative grants or loans can also be combined with FHA mortgage loans. Required credit scores are also lower for FHA mortgage loans. These benefits far outweigh the higher FHA closing costs (APR) that are due to the upfront mortgage insurance premium and other applicable FHA fees.

High end borrowers are not left out of the best mortgage rates for 2011. For mortgage loans above the conforming loan limit, current jumbo 30 year fixed mortgage interest rates are at 4.875%, jumbo 15 year fixed mortgage rates are at 4.500% and jumbo 5/1 ARM loan rates are at 3.625%. In order to qualify for these lowest jumbo mortgage rates with 0.7 to 1% origination point, borrowers must have excellent credit as well as the ability to meet lenders approval.

Todays Wells Fargo California 30 year fixed mortgage interest rates are at 4.500% (4.686% APR).

After yesterdays volatile session, todayss MBS prices (mortgage backed securities) are up down -2/32 (FNMA 30-yr 4.0 at 101.06). MBS prices directly affect mortgage rates which move in the opposite direction. Such a low drop in MBS prices is unlikely to affect current low mortgage rates today. Todays reporting included Orders for Durable Goods which increased 1.9% for the month of May which was more than anticipated. Although this is positive news, markets continue to be concerned about what is happening in Greece as reflected in todays drop in the Dow.

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.r