Bringing good news for the US Economy, reports indicate that the current low mortgage rates continue to be the trend since consumer confidence has increased higher than what was expected. According to S&P/Case-Shiller Indices, home prices for the last month decreased more than expected, low mortgage rates have made it more affordable to purchase a home today. At the moment, 30 year fixed mortgage interest rates are at 3.750% and 15 year fixed mortgage rates are at 3.125%. 5/1 ARM loan rates are at 2.500%. These low mortgage rates are available with 0.7 to 1% for well qualified borrowers who have maintained a good credit rating. In order to receive approval for conforming mortgages, borrowers need to have stable employment and assets for reserves, both of which must be documented and verified.