Mortgage Rates Decline this Week: 30 Year Conventional Rates Averaging 3.94%

Average mortgage rates have been on a tear recently and after five weeks of gains, average mortgage rates have finally fallen. 30 year conventional mortgage rates which were at 3.35 percent in early May, rose above 4.00 percent two weeks ago and have since fallen back below 4.00 percent. Mortgage rates today on 30 year conventional loans are averaging 3.94 percent, down from last week's average rate of 4.03 percent.