Recently, mortgage rates again have been on a downward trend.  Unbelievably low home loan interest rates combined with lower home prices make homebuying today more affordable than it has been in the last 40 years!!!  Below are quotes today, May 24, 2011, from Wells Fargo Private Mortgage. These rates include a 1% origination fee and a 30 day close. 

Conforming: 30 Year Fixed Rate - 4.5%, 15 Year - 3.75%, 10/1 ARM - 3.75%, 7/1 ARM - 3.375%, 5/1 ARM - 3.0%

Jumbo: 30 Year Fixed Rate - 4.875%, 15 Year - 4.125%, 10/1 ARM - 4.25%, 7/1 ARM - 3.875%, 5/1 ARM - 3.5%

FHA: 30 Year Fixed Rate - 4.375%, 5/1 ARM - 3.25%

Homeownership is within reach.  In many major cities across the U.S., it is less expensive to own than it is to rent.