Greetings neighbors,

According to recent numbers, mortgage rates dropped to an all time low last Friday. 30-year fixed mortgage rates are now at 4.375% with a 1 point origination which was a decrease from 4.5%. In addition, the 15-year fixed rate dropped from 4% to 3.875%, marking the lowest numbers ever.

The most recent decline in mortgage rates can be credited to a major increase in mortgage-backed security or MBS prices last Friday.

In addition to the FRM's, jumbo mortgage rates also experienced a decline with the 30-year fixed jumbo loan rate for true jumbo loans exceeding conforming "high balance" county loan limits coming in at 5.375% according to a recent write up in Realty Times.

Other rates are as follows: 5/1 ARM rate - 3.500% FHA 30-yr fixed-rate - 4.375% FHA 15-yr fixed-rate - 3.875% FHA 5/1 ARM rate - 3.500% VA 30-yr fixed-rate - 4.625% Jumbo 30-yr fixed-rate - 5.375% Jumbo Conforming 30-yr fixed-rate - 4.625%.