Mortgage ratescontinued to move lower as investor concerns over the health of the US economy increased, reports mortgage rate research website, ForTheBestRate.com. Interest rates advertised on the site have dropped to near their lowest point of 2011 for most products, with the 15 year fixed reaching historical record lows. On August 4th 15 year mortgage rates as low as 3.250% were posted (APR: 3.387%, Lender: Gateway Bank Mortgage.)

Mortgage pricing has edged lower while US and global stock markets are seeing losses, including a drop in the Dow of more than 500 points on Thursday, August 4th, the largest single day loss since December of 2008.

The downward trend of mortgage rates was confirmed in the weekly survey from Freddie Mac, a government sponsored enterprise that purchases residential mortgage loans in the secondary market. The data released August 4th showed a decrease in the average 30 year fixed rate pricing to 4.39% (0.8% points) from 4.55% (0.8% points) from the previous week. 15 year fixed rates fell to a new historical low, an average of 3.54% (0.7% points), after averaging 3.66% (0.7% points) the week before.

5 year adjustable rate loans also moved lower to an average of 3.18% (0.6 points), down from 3.25% (0.6% points) the week of July 28th.

"While we'd love to see more positive economic news coming from other sectors, right now there is a huge opportunity for homeowners," commented Shaun Hamman of American Financial Resources, a National mortgage lender offering a range of products includinghome improvement loanssuch as203K loans, anddebt consolidation mortgages. "Buying a home or refinancing a higher rate mortgage at these incredibly low rates can allow one to make a significant positive impact on their long term net worth," he added.

Below is a snapshot of interest rates for a variety of programs listed on ForTheBestRate.com on 8/4/2011. Rates are subject to change. Please visit the site to view the criteria used in the survey.

30 Year Mortgage Rates(0 Points)
Loan Depot – 4.250% Note Rate – 4.333% APR – $1,950 Fees in APR
Amerisave – 4.250% Note Rate – 4.335% APR – $1,995 Fees in APR

20 Year Mortgage Rates(0 Points)
Gateway Bank Mortgage – 4.000% Note Rate – 4.000% APR – $0 Fees in APR
Loan Depot – 4.000% Note Rate – 4.104% APR – $1,800 Fees in APR

15 Year Mortgage Rates(0 Points)
Aurora Bank – 3.500% Note Rate – 3.555% APR – $757 Fees in APR
Quicken Loans – 3.750% Note Rate – 3.865% APR – $1,553 Fees in APR

10 Year Mortgage Rates(0 Points)
Gateway Bank Mortgage - 3.250% - 3.250% - $0 Fees in APR