Mortgage Rates Lower: 30 Year Mortgage Rates at 4.78%, 15 year Mortgage Rates at 4.21%

Mortgage rates are lower again this week thanks to the financial issues going on in Europe. 30 year mortgage rates are down to 4.78 percent for the week ending May 27, 2010 in Freddie Mac's current Primary Mortgage Market Survey. This is the lowest point 30 year mortgage rates have been since December 3, 2009. Mortgage discount points averaged 0.7 points on 30 year mortgages.

Looking for current mortgage rates and mortgage refinance rates? Use our mortgage rate tables at MortgageRates.MonitorBankRates.com to find the best mortgage rates currently available in your area.

Conforming fixed 15 year mortgage rates were  also lower for the week ending May 27, 2010. Current fixed 15 year mortgage rates are averaging at 4.21 percent with 0.7 mortgage discount points. Conforming 15 year mortgage rates decreased from last week’s average mortgage rate of 4.24 percent.

5 year Treasury indexed adjustable mortgage rates are up to 3.97 percent for the week ending May 27, 2010, an increase from last week’s average 5 year adjustable mortgage interest rate of 3.91 percent. Mortgage discount points averaged 0.7 points, up from the prior week’s average of 0.6 points.

1 year Treasury indexed adjustable mortgage rates are now under 4.00 percent at 3.95 percent, a decline from last week's average mortgage rate of 4.00 percent. Mortgage points averaged o.6 points, unchanged from the previous week's average.