According to Mortgage News Daily (a really great site to monitor mortgage rate activity), mortgage rates neared all-time lows today.  Mortgage rates have had some ups and downs this year, but generally they have trended downward.  Here are some excerpts from MND’s Mortgage Rate Watch:

Mortgage Rates continued their bounce back from abrupt weakness on Friday.  The two days of gains so far this week bring rates back within striking distance of all-time lows ahead of several key events in the coming days.  Markets have essentially shifted their focus to these events: the FOMC Announcement tomorrow and perhaps an even more important announcement from Europe’s Central Bank on Thursday, followed by the important Employment Situation Report on Friday.

Today’s BEST-EXECUTION Rates 

• 30YR FIXED –  3.5%, Some Approaching 3.375%
• FHA/VA - 3.25-3.5% (varies more between lenders than conventional 30yr Fixed)
• 15 YEAR FIXED –  2.75 – 2.875%
• 5 YEAR ARMS -  2.625-3. 25% depending on the lender